Tom’s Weekly Newsletter September 29, 2021

Tom Gentile

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By: Tom Gentile
September 29th, 2021

1 min read

After all these years of trading and investing, it is still interesting to see support and resistance at work. The 50-day Simple Moving Average (SMA) acted as a firm support for the SPY for quite a number of months. It broke that last week and hit the 100-day SMA and bounced. Bounced where? The 50-day SMA.

With the volatility in the markets, it doesn’t look like anyone wants to hold their short- term stuff overnight – can’t say I blame them.

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