All of the major benchmarks that we follow are now firmly situated in a neutral state. Yesterday’s test of the 200-day moving average (1450) in the S&P was successful and now the 1490 level should pose the biggest problem for the bulls if they indeed keep the short-term rally around long enough to reach that area.
Remember what I stated a few days ago;
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Andrew Crowder, Chief Options Strategist, www.crowderinvestments.com