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soldenal

SPY second leg down incoming (towards 400)

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
soldenal  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns
6
1
trendanalysis chartpattern
Looks like the recent bounce off of 420 has ran its course, bears are now gaining back control. To think that this rebound didn't even touch the 50 day MA (at about 460 now), I have to draw a conclusion that the market is still weak on the long side.

Next we are likely heading towards 400.
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