We received a bullish signal on SPY on 28 Dec. Looking at the structure of the SPY trend and the historical performance of the signal over the past 2 year AND considering the seasonality of where we are we believe that SPY will more than likely take out the 500 level over the next few weeks.
Key to this will be how the PC ratio plays at the 10 Day MA. With the PC ratio rising to meet the declining average – should it fail here – we will see SPY break above the 487.78 level over the next few days and this could trigger a rally potentially pushing SPY to the 500 level.
Like anything you have to trade what is in front of you and with a long squeeze signal on the 15 min chart with a history of performance with this signal one has to side with a bullish view over the next few days.
Key to this will be how the PC ratio plays at the 10 Day MA. With the PC ratio rising to meet the declining average – should it fail here – we will see SPY break above the 487.78 level over the next few days and this could trigger a rally potentially pushing SPY to the 500 level.
Like anything you have to trade what is in front of you and with a long squeeze signal on the 15 min chart with a history of performance with this signal one has to side with a bullish view over the next few days.
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