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Index level alert - SPX challenging a key trend support level at its 15-dma

One day’s trading is often just noise, and the Nasdaq is again green on the day BUT yesterday’s late day sell-off on higher downside volume, had the hallmarks of a short-term reversal day tactical investors/should pay attention to particularly heading into today’s close. The levels are likely to be increasingly important heading into option expiration this week and next  (5/15 for equities and 5/20 for index options) with the 15-dma (S&P 2870, NDX 8919) important short-term proxies f...

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