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Perhaps if you were a short term trader and trade the weekly wigglies. Longer term, it has come back to mid channel from overbought conditions.
However, both terms indicate a bounce back from resistance for SPY around 184 so short term traders might exploit that. But if it breaks down through that from its sideways movement since Mar, we may see it oversold to around 176 which is roughly another 5% correction. At least that is what technical traders think.
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However, both terms indicate a bounce back from resistance for SPY around 184 so short term traders might exploit that. But if it breaks down through that from its sideways movement since Mar, we may see it oversold to around 176 which is roughly another 5% correction. At least that is what technical traders think.