SPY - Long Term Perspective
I've long been a fan of buying when a stock is at or below a 40 month moving average with a rising trend line. As SPY hits this level at 360. It is very compelling for me to be positioning to the long side here for a significant upward move. A nearby Fib retracement points to 345. Should we maintain these levels, The market will continue rising with SPY moving into the mid-500s.
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