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Are the SPYs moving into an A/B/C (up/down/up) pattern? Let's take a look.
A.) Prices rose from their early February lows.
B.) Prices consolidated in a downward sloping pennant pattern.
C.) Notice the EMA picture: The 10 day EMA has moved through the 50 day EMA and the 20 is about to do so. The 10 and 20 day EMAs are moving higher as is the 50 and prices are above the EMAs
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Let's see if the transports are confirming the possible uptrend.
A.) Prices continue to move higher. Last week they corrected sideways rather than lower.
B.) The EMA picture is bullish: All the EMAs are moving higher, the shorter EMAs are above longer EMAs and prices are above all the EMAs.