/r/StatQuants
The $SPY has been finding support at the VWAP from its #1 engulfing candle (red circle) since May. If it breaks below this level tomorrow, we may see some bounce and support around the 530-533 range.
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Last week, we sent a note to our community alerting them that the S&P 500 Consumer Discretionary Sector (SP500-25) was on the verge of turning negative if $AMZN's earnings disappoint, it's only up 0.56% YTD down from 5.14% to start the week. The Consumer Discretionary SPDR $XLY is DOWN 0.56% YTD
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