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SPY Daily Composite
The attached shows the daily composites for the two ranges using Market Analyst. The blue zones are value and the green and red are the 2nd and 3rd standard deviations, respectively. Barros likes to look at the red zones as the extremes of the ranges and it's interesting how they overlap for the top and lower ranges.
If price gets turned down from the extreme of the lower range then it might represent a good shorting opportunity. If it can return above the pink line with conviction, back into the upper range, then the old highs as a target seem probable, imo.
nic
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