We broke out of the range today and closed way above 108 on SPY, although volume was light.
I had mentioned that bulls had shown very encouraging action on friday and today we gapped higher and kept on chugging higher. Rally was broad based with ,most beaten down sectors like Steel and materials were the top gainers. Indexes are positively above 20dma while Russell is above 50 dma, some backing and filling while holding 108 on SPY could be a supporive actions over next few days. Lots of stock also hit 52wk high today so over all a positive action just on low volume.
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