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I also think this is just psychological support around the 200SMA. No one is ready to see it move below that and stay under. But to be quite honest, even with a possible Fed rate cut I think the inevitable fall will come. Definitely a lot of indecision going on right now, but I believe it is pretty clear to see lately that the bears have control. |
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I'm not seeing a convincing bear control here. I'm seeing a range bound movement where no one is really in charge. It's back and forth until the bulls or bears say enough (could be news/econ related).