Breakouts to Test New Highs

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Friday’s price action has allowed DIA and SPY to breakout out of the overhead resistance it was facing the last two weeks. With this breakout, the two indicies have clear shots at their all-time highs. SPY is pretty much within this resistance area any further upside and those highs are tested. DIA has a little more room but there is little resistance till those highs. As long as SPY stays above 208.18 and DIA stays above 179.75, the bulls hold the edge.

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Piker Trader