CosmicDust

SPY weekly - some observations - 8/29/2015

AMEX:SPY   SPDR S&P 500
spy
1. it is significant that a long term trend line broke, so be serious about it.

2. from this point on, risk to the downside is MUCH bigger than the risk to the upside, until a weekly close above 40 weeks moving average.

3. counter trend rally toward 40 week moving average is common, and can be traded.

4. given the light green parallel channel , I will not be surprised if the SPY             drops to $88, as this is totally possible.

5. formation of the down trend RSI channel signals the market is in trouble. However a break out of the upper parallel channel signals the trend change of the market.
looks like another 2 year drop on its way.. more money for traders!
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mikeoakster JeanLouisHardy
One of the problems might be the value of paper money at the end of the collapse...
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CosmicDust mikeoakster
You mean cash is king, or gold is king?
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mikeoakster CosmicDust
I mean king could be only hard assets...
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Perhaps we should also consider as probable target the trend line connecting the September 2002's low with the March 2009's low, thus forming an expanding triangle which wave E we would now be starting to ride.
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Nice analysis. I was not aware of the RSI channel, so I will keep my eye on that to help signal a bottom. Thanks!

You might find my analysis interesting:

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CosmicDust tristan.rhodes
Very nice! Favorited and thanks!
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Very Interesting Observation ! Yeah We are Most Likely in the Beginning of the Next Stock Market Meltdown ! 2016 is also the Year of U.S President Elections. Perfect scenario for a Collapse.
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