One last test of the primary trend?

2 thg 3, 2023

The SPY has completed a throwback from the primary trendline, however, this morning's pre-market session is pointing to a gap down below the trendline. I'm looking to see how we open and will be looking to the AADD to determine market breadth impact. A break below 390 could put us into further declines as it would also break the 100-day moving average.

2 thg 3, 2023

Ghi chú

ADD printed -1800 companies in the red at the open and the SPY opened with a -0.35% gap. I'm watching the bids to see if we find support right on this trendline.