SPY weekly - some observations - 8/29/2015

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!
mikeoakster JeanLouisHardy
One of the problems might be the value of paper money at the end of the collapse...
CosmicDust mikeoakster
You mean cash is king, or gold is king?
mikeoakster CosmicDust
I mean king could be only hard assets...
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.
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:

CosmicDust tristan.rhodes
Very nice! Favorited and thanks!
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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