We hit November levels that creates resistance this morning (orange line), unless we can get sustained bull action here, the red downward trend line will force this down to a new lower low on SPX and the wider markets. Trade with care here bulls. I'm on the sidelines taming my FOMO fears. I only run with the bulls when they show conviction and I'm fine not being in front. This looks like a short term bull trap on short term oversold correction.
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