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$SPY : Close but no cigar

AMEX:SPY   SPDR S&P 500 ETF TRUST
Most $SPY gains were made yesterday before the day session began. During day trading, $SPY gains were limited and traders took profit at the close.

We have seen this movie before.

$ES futures are down 0.42% as of now. European car sales fell 76% from a year earlier in April.

Powell and Mnuchin will testify before the Senate banking commitee today so a positive tone in the early going can be expected.

The range in chart persists.

A test of rising 20DMA and then a rebound will be bullish.

Expecting a strong directional move when the price moves out of the range convincingly.

Penafian

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