$SPY — Short-Term 20 vs 10-MA Death Cross
$SPDR S&P 500 ETF Trust(SPY)$
Looking at the two recent corrections in late July and mid-September, both featured a 20 vs 10-MA death cross, with price action trapped within a descending channel.
The message is pretty similar for the week; stay away from breakouts until the market decisively breaks out of its current channel/wedge which will coincide with the reclaims of both the 10-MA and 20-MA.
This is not a market to force trades. But don't abandon the process.
Continue diligently building your watchlist around relative strength in individual industry groups and leading names.
No need to trade the market you have, but prepare for the market you want.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
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