$SPY The Bulls continue to appear to be losing
momentum, but for now, it is just an overbought pullback. The uptrend doesn’t
seem to be at risk at this point. Thus far two of the three trading sessions
this week have ended as Distribution sessions, a troublesome indicator. A weak jobs report could potentially be good
news for the market. In the meantime, the S&P 500 has been down three days
in a row. It hasn’t had a losing streak longer than that in 2014. We’ll see
whether it can keep that track record going today
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