| The major exchange traded funds gained ground Tuesday on positive service-sector data and as European financial leaders met with a focus on supporting Spanish banks. Institutional investors told clients that the market is oversold and due for a short-term bounce, at least.
In afternoon trade, the SPDR S&P 500 (SPY) gained 0.67%. It appears to be finding support at its 200-day moving average, a widely watched technical level that often serves as key price support...............................................Full Article: Source
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