After hitting a CLONE trend line resistance and trend line resistance 3, SPY is now close to three confluence points, the 50 ma, a CLONE line support and trend line 4 support. Failure to hold these points we could see SPY fall to trend line 2 or the 155.87 CLONE support near term.
Comments
nmike
⋅
>>>>>after breaking trend line 4 SPY is now sitting right on the 164.58 level, failure to hold here could see SPY fall to the 160.23 level or trend line 2
nmike
⋅
.... top clone resistance broken, next likely upside target is the dotted blue resistance trend line
nmike
⋅
>>>>> CLONE trend line target hit, next support, if it doesn't hold here, is around 150.5 (gap support)
nmike
⋅
>>>>> major trend line broken and price below 50ma, minor CLONE line support also broken.
nmike
⋅
>>> a nice bounce off the 50ma, CLONE trend line support & a diagonal trend line support