Weekend

The most dramatic solar eclipse in a decade will be visible this weekend

On June 21, a rare “ring of fire” will be visible in Africa, Asia and the Middle East. It will be the shortest and deepest solar eclipse in 2020, reports Travel + Leisure.

The “ring of fire” is a partial solar eclipse that occurs when a new moon is furthest away from Earth in its orbit, so it doesn’t cover the sun completely. Essentially, it’s the opposite of a “supermoon.” The sun will be 99 percent obscured (hence the name), almost like a total solar eclipse.

Unlike other solar eclipses, however, it’s expected to go dark before the “ring of fire” is visible. Experts also anticipate bizarre animal behavior leading up to that moment and some points of light around the moon called Bailey’s beads. This is also a special event because it’s possible people will be able to witness the sun’s outermost atmosphere: the corona, which

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Critical Price Level Could Prompt A Big Move After The Holiday Weekend

As technical traders and researchers, we’ve been paying very close attention to the GREEN ARC Fibonacci resistance level on the SPY as a key level for the US stock market and any hope of a continued upside price rally.  The SPY has traded near this level for the past three weeks and appears to be attempting a bit of an upside breakout right now.  Yet, we understand a long holiday weekend is upon us in the US, Memorial Day, and after a big upside GAP on Monday, the US stock market has stalled over the past few days.

SPDR S&P500 ETF WEEKLY CHART

Our researchers believe this GREEN ARC is still acting as critical price resistance and believe the SPY may sell off into the end of the week resulting in a failed attempt to breach this key resistance level.  If this happens, the failed attempt to break this resistance

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