Monday’s ugly selloff in global equity markets left behind technical damage.

Lots and lots of technical damage.

For the S&P 500 — represented by theSPDR S&P 500 ETF Trust(NYSEARCA:SPY) — important lines of support broke on a big-volume decline. The SPY ETF, however, closed the day right at its 200-day simple moving average, which is a key area to focus on (through an investor psychology lens more than anything).

It also has us asking the question: Should we buy the SPY here?

Read my full analysis HERE

 

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