The S&P 500 has been consolidating in a relatively narrow range for the past two days just under April 5th high and around the daily 20 EMA. Bearish market participants have not been able to push lower in any meaningful way against that resist and it is not like they couldn't find an excuse to do so with the news headline over the last few days. I read that inability to push lower as bullish but can't argue with the idea of letting the market move up out of the range before taking a position.
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