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SPY and QQQ closed below their 50-day moving averages for the first time in a while. Historically, the week after September quad witching is the weakest for stocks. From a statistical and technical point of view, next week might bring further downside pressure for stocks in general. Curiously, this weekend I see more and better risk-to-reward long setups than last weekend. Biotech, clean energy, social distancing stocks, many small caps, in general, are acting in a constructive manner – breaking out or setting up. There are great opportunities on both the long and the short side.
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