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Today's Quick Chart Check: Friday - Dec. 7, 2018

The SPY chart is pictured below.

The markets are lower again today on Friday. More China trade war spat news again of course. This week the technicals suffered damage by breaking back below the 50-day and 200-day moving averages after getting briefly back above them. Resistance levels are now at 280 and both of the moving averages. Support still might be at 264/265 area. We have bounced a few times off of this area.

The MACD is neutral. The Stochastics are neutral. The Money Flow is actually still slightly positive!

The next few trading days maybe about finding support levels and trying to figure out whats next.

Happy Trading!


Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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