Don't be fooled by a dead-cat bounce off of the 200 weekly MA.

As I high-lighted in my previous post about the SPY, I anticipated a move down to the 200 weekly moving average after breaking the 100 weekly moving average and a key support zone, and that is exactly what happened. If there was a logical place for a dead-cat bounce, the 200 weekly moving average would be it. If price can steadily climb up back above several key moving averages and hold them as support again, I will change my stance. As of right now, I remain bearish.

-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk.

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