CosmicDust

SPY weekly - another lower high from top - 3/25/2016

AMEX:SPY   SPDR S&P 500
spy
This week was in the book, and the SPY             closed at a second major lower high. I suspect it is heading to $185 level, about 8% drop from current level.

Might be a good idea next week to open a short position with a stop at about $206. Risk is about $3 dollars, and reward can be $10+.
I imagine a really fast selloff should everyone agree... i wonder if there will be a surprise reason coming out now
Reply
If you observe 200 day moving average line, it is nice and smooth, not a lot surprises (some but not a lot like day by day surprises). If price and RSI can break out from the downward parallel channel, that can be a game changer (more like 2011/2012, than 2007/2008).
Reply
2use CosmicDust
havent we already seen the 2011 drop down
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out