Off the Charts
The S&P (SPY) battled back from a lower open this morning to finish narrowly in positive territory. The Dow also eked out a small gain, while the Nasdaq finished in the red thanks to more weakness from its largest component, Apple (AAPL). At the end of the day, it's just another day of digestion after a fast start to the year.
As we have noted for the last two weeks, this type of slow digestive action can be frustrating for day traders but is healthy in the eyes of swing traders. The S&P is holding up well as it finds support at the 8-day moving average and flags in front of prior highs at 1474....672 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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