Killy_Mel
Short

MACRO VIEW: SNP LIKELY TO FALL WITHIN WIDER LATERAL RANGE

AMEX:SPY   SPDR S&P 500 ETF
On technical basis, SPY             (The S&P500             ETF ) has broken down below 1st standard deviation from quarterly mean (66 days), while also breaking below 1 year mean (264 days).

The price has now entered a downtrend on quarterly basis, and will continue to fall if price stays below 1st standard deviation from quarterly mean (207.1) Closest target is the lower 1st st             deviation from 1 year mean (197.70)

After the target is tagged, price will likely stay within 1st standard deviation from 1 year mean for some time (range will be 197.7 - 212.5)

SPY             is mostly influenced by upcoming September uncertainty, caused by upcoming US policy decision in regard to Iran (to leave it sanctioned or to open it up).
klepkowski
a year ago
Great analysis. Thanks for posting it
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Killy_Mel klepkowski
a year ago
you're welcome)
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for me price has to take out that October 2014 swing low for a meaningful trend change. Many fund managers now have a good portion of their portfolios in cash and they hate being in cash with interest rates this low. Central Bank policy key here I suspect a violent updraft in Sept will see
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Killy_Mel paulyberndt
a year ago
trend change - you mean to downtrend? or a new leg of lateral uptrend that was happening since end of 2012?

where do you get data on the portfolio managers?)
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