SPY ETF: 270 Holding

When our 270 S&P 500 ETF SPY (NYSEARCA:SPY) level was broken last week we wanted to see how the market responded.

A sharp break would have been a hint for further downside.

After seeing the market hold 270 nicely though I no longer expect sharp downside.

The market's still in an uptrend until proven otherwise.

While there was some negative commentary about Trump and Xi being far apart on trade, the market actually digested that news rather nicely. That's a good sign of bad news, good action and a bullish hint.

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All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC, and their related parties harmless. We have no holdings in the stocks mentioned unless otherwise noted.

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