The 200-day moving average for the small cap ETF is suddenly back in play, as today’s potent rally has taken price back up to precisely test that reference point today, at $113.83.
It is tricky to swing a short in front of The Fed tomorrow, in addition to how resilient the snapback rally in the market has been to conclude October.
But this would likely be the last best chance bears have at turning buyers away.
If they fail, I still have the likes of PBPB on my radar as a long idea.
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