So what happened so far today.
The 50 sma started in a down trend.
Then the s&p broke over the 50 sma.
But hasn't been strong enough to turn it around.
It keeps bouncing off it's downward momentum but if it breaks below there could be a sell off.
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Yes. Always "daily chart" for bjones is referring to the 5 min intraday chart.
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The 5m time frame is the chart that matches up the most to the chart posted, the 30m is still far into an ugly bear down trend.
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