$SPY RECAP of Last Week Feb 10-14

Last week was inflation data week and Monday and Tuesday we opened with a gap up and then stayed flat from there until CPI on Wednesday where we dropped down and filled the Monday gap and bounced on the 50 Day Moving Average.

After CPI (which came in HOTTT) and the bounce on the 50Day we took it to the downtrend and then pushed passed resistance to briefly make new ATH’s and close the week just underneath ATH’s

Previous ATH’s 610.78, new ATH’s 610.99

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Watching just the 35EMA and the 30min 200MA we opened the week neutral and when price dropped to the 50DMA the 35EMA bounced on the 30min 200MA and we bounced it from there.