Here is the current S&P 500 chart. The market has made new highs again with extremely overbought but weakening momentum at least for the short term. The most likely short-term trend will be a correction in the next week or two before a seasonal summer rally. The two strong supports for SPX will be its 20 DMA around 5211 and the 50 DMA around 5170ish, which are changing daily.
So my trading strategy will be more shorting in the days ahead and then more buying thereafter if the trend plays out as expected.
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