The Gap & Fade Price Action
The stock market is in its 3 months stretch of correction, daily technicals printed lower highs, then succumbed on 50 day moving average resistance. The S&P 500 is trading near 3 weeks low, Dow Jones at 3 weeks low & near to the 3% trough of the mean average gap to the 20 DMA.
SPY near 3 weeks low, see our daily moving average % gap since the February correction our median gap to 20 & 50 DMA is at 3 %, extreme reading ( oversold) is at 6.5%
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