The Trader Daily


Bob Byrne

 | Jun 25, 2014 | 7:30 AM EDT
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The takeaway from Tuesday's selloff depends greatly on your overall market view. Bullish trend followers will point to the undeniable fact that the SPDR S&P 500 Trust (SPY) is still above the 21-day exponential moving average and the very shortest of trend lines (dating back to June 2). Bears will complain about the growing sense of complacency, negative divergence in the RSI and perhaps the distance from the ETF's 200-day simple moving average. More neutral, day-timeframe types will simply give thanks for the uptick in volatility.

In my view, you should recognize and respect the short-, intermediate- and longer-term trend, all the while keeping an open mind and maintaining a willingness to move with the market, rather than against it....663 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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