As of now, even with the last three weeks of declines, $SPY has held support on the weekly trend line and the 52 week moving average.
February 27, 2023 - by Editor Prism MarketView
As of now, even with the last three weeks of declines, $SPY has held support on the weekly trend line and the 52 week moving average. With lack of follow through selling, and end of month portfolio adjustments, the market feels like it wants to bounce a bit. Lacking a major economic catalyst until nonfarm payrolls March 10, we may get some nice bids and good range trading for a bit.
