Market Overview
The SPY is looking for its 8 consecutive close above the 21 EMA and the trend is clearly intact. Price is sitting at 776.62 with the 8 EMA right underneath at 775.17, acting as the nearest dynamic support. Today is a mild pullback day after a strong run - the KOSPI was down again overnight and Memory stocks are struggling again. However, nothing about this action looks broken. The 21 EMA at 770.79 is well below price and the full stack, 8, 21, 50, 200, is cleanly ordered. VIX at 15.4 is calm and not warning of anything, so dips toward the 8 EMA are the spot to watch.
META is strong again today - we have been seeing very bullish option flow and dark pool flow in my Discord which is very supportive of its move today
