khboker
Short

Closed below second cloud

AMEX:SPY   SPDR S&P 500
This has a double cloud, the second cloud is just double the first, the price has closed 2 weeks below the second cloud, this weeks candle does not count as the week is not over, if you review back, it closed below in 2001 and 08. Interesting as we know it is not good to close below, but it does not tell us where the bottom is, every chart is different, and every economy is different as we have entered bear and bull markets, don't know if this will turn into a longer down trend but will be interesting to see if the market can go against the past. Enjoy trading this is for reference only, enjoy.
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