Monday, April 11, 2016

the market is in consolidation phase

SPY is consolidating the gains from the last month. Its movement is very similar to the area of consolidation around the end of Feb - beginning of March, we saw the market move side-ways for 5 days and then a breakout happened on the 6th day. If we see a move higher tomorrow we could be repeating those higher high's and maybe see all time highs. On the other hand if we see a breakout to the downside we could be in for a revisit of the lows we saw the 2nd week of Feb.

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