It is interesting to compare toe SPY MF to the 20DMF.
We can see that the SPY MF is more bullish than the 20D%F because on the 20D%F, AAPL has a weight of maximum 1%, while on the SPY MF, AAPL has a weight that is four times higher.
I believe that the 20DMF gives a better image of the reality.
Pascal
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