As we cab see we expected strong reversal signal from the area between 260 and 255 which indicated by MFI and RSI and stochastic .
SPY is inside large uptrend colored orange. the volume had been declined for recent seasons which show less selloff . properly SPY will make a new support below 260 then targeting DEC-JAN at 290 . even its broke 250 SPY will have strong upward trend at least to the point 281.
Stochastic : showing that will confirm the support then turn up ward.
RSI will get into the down trend and bounce up . if broke it then bears will be more strong and SPY will drop further
MFI expected to turn down again then bounce unless we see high volume on Monday trades!!
Summery:
Watch carefully between 255-261 and get long positions once all indicators turns up again..
SPY is inside large uptrend colored orange. the volume had been declined for recent seasons which show less selloff . properly SPY will make a new support below 260 then targeting DEC-JAN at 290 . even its broke 250 SPY will have strong upward trend at least to the point 281.
Stochastic : showing that will confirm the support then turn up ward.
RSI will get into the down trend and bounce up . if broke it then bears will be more strong and SPY will drop further
MFI expected to turn down again then bounce unless we see high volume on Monday trades!!
Summery:
Watch carefully between 255-261 and get long positions once all indicators turns up again..