General market lab and commentary Message Board

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Strategies & Market Trends : General market lab and commentary

SPY 679.68

+0.7%

Nov 26 4:00 PM EST

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From: Robohogs	2/23/2016 5:32:20 AM
	of 668

Most indices closed at or under resistance, but right there, and then futures fell out of bed after cash close before futures closed. Now off a bit more. Call it 1/2%. It is somewhat important that support holds in here relatively quickly in my mind. We could lose 1-3% and be ok, just not ideal. Oscillators ST stretched now and seem not to want to stretch more. Still have sentiment support - surveys/actions (BAML institutional, all retail) and put/call but not VIX. So we go down a bit (1-2 or 3 days), bounce and then more meaningfully correct as we get medium term overbought. Midcaps hit higher high Monday. Sectors improving. Energy bonds were bid. I am disappointed in FANG strength/IWM relative weakness/Bios.

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