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Market Recap For Friday, March 4, 2016 - SPY SPX QQQ TLT AGG MUB USD GOLD GDX USO XLE UNG

3/4/2016

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         Stocks ended the week touching the 200-day moving average and pulling back from it. Just above, in the $202-$204 area lies a big gap down from the first trading day of this year. This are should now act as resistance. SPY moved over 11% off the 52-week lows set in February, so it’s a no-brainer that it is now overbought. An overbought condition within a bigger downtrend is a recipe for a push lower. 

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