Macro Monday Trading Meeting (Here). Despite recent market pullback and slight uptick in volatility, the US remains the most attractive equity market based on relative strength comparisons to developed and emerging market economies.
Tuesday's SPY Powerbar ratio remains flat, and price continues to pull back, using January highs as possible area support. If the breakout doesn't hold, we'd expect a pullback to the diagonal trendline established after the winter correction. With price above the long term Chaikin trend and the pullback occuring into persistent, though weakening positive money flow, even an intermediate correction should end in a Santa Claus rally that sends prices higher.
Tuesday's SPY Powerbar ratio remains flat, and price continues to pull back, using January highs as possible area support. If the breakout doesn't hold, we'd expect a pullback to the diagonal trendline established after the winter correction. With price above the long term Chaikin trend and the pullback occuring into persistent, though weakening positive money flow, even an intermediate correction should end in a Santa Claus rally that sends prices higher.
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