Market Overview
SPY is at 765.39 today, back above both the 8 EMA and 21 EMA after diving under them just yesterday. This is only the 1st close back above the 21 EMA, so we’re still in confirmation mode, not full trend mode yet. The bounce off Monday’s 759.48 low held right around the rising 50 day at 755.35, which is a good sign the broader uptrend is intact. VIX sitting at 15.4 keeps things calm, and with the 50 day and 200 day both trending up underneath, dips are still buyable until proven otherwise. I remain very cautious here.
