Fed Speak – 2 Levels To Watch

The SPY is trapped between the 50-day and the 100-day MAs. Long term compression.

PRE-OPEN MARKET COMMENTS TUESDAY – If you strip out the August highs and the September lows, the market has been trading in a range between SPY $370 and $410 for the last nine months and it is right in the middle of that range. It is chopping around the 100-day MA and traders are waiting for any news that might spark a move below support or above resistance.

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