What looked like inventory trolling / an attempted gap play found huge support at the daily pivot where strong buying took equities well past their respective five-day moving averages/ first resistance levels. Internals are very strong even as we pause here at the S&P 500’s ten-day moving average. If we can hold near the five-day (say $107.85), I put the next upside target at SPY $108.70-109.30 [edit] for later in the week.
Never Investment Advice
