Markets broke intermediate levels of support this week and the $SPY continued down to test the rising 50 day moving average where buyers were waiting on Thursday. The strength continued on Friday with a gap higher and the markets remain in a primary uptrend above rising 50 day moving averages. At some point the calls for a top will be right but for now the markets remain in primary uptrends. The video below takes a look at key levels and scenarios to focus on next week.
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