The market is at a critical juncture from a technical viewpoint.
Note how the 125dma (blue line) has identified a solid uptrend for the market and is now playing the role of a crucial support.
SPY bounced above the 125dma every time it touched it in the past 2 years with only one exception - October 2014. Watch out below if stocks break below the 125dma. They could decline to or below the 200dma (red line).
This is the reason stocks are a critical juncture.
George Dagnino, PhD
Editor, The Peter Dag Portfolio
Author, Profiting in Bull and Bear Markets
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