Consideration for the SPY; going into Monday
Aggiornato
Considering the last two days of trading; there is a real possibility of the SPY testing 253.64.
- Weak volume on the upward trend which formed a double top before finally falling off on Friday (Panic Selling)
- It cracked the Fib 50% at close.
- Confluence Line sits at 253.64, which is also an area of support.
Overall, watch the chart for 253.64. If it breaks that level expect the trend to continue down.
- Weak volume on the upward trend which formed a double top before finally falling off on Friday (Panic Selling)
- It cracked the Fib 50% at close.
- Confluence Line sits at 253.64, which is also an area of support.
Overall, watch the chart for 253.64. If it breaks that level expect the trend to continue down.
Nota
As of 1114 EST, futures showing green. Let's see it holds into the morning.Nota
Solid bounce off the 200 SMA on the daily chart. Candle closed above Friday's candle. Seems to be a nice reversal taking shape. I'd like to see how the pendant plays out over the next few days.Nota
EOD sell off, Bounced off the 200 SMA again. Have to see how the morning shapes up.Nota
More of the same, going to test the 200 SMA again tomorrow.Nota
Finally broke 200 SMA, looking for a test of 253.64 this week.
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