OsmanDiaz
Short

Back Down We Go

AMEX:SPY   SPDR S&P 500
After the brief bounce we saw today, it seemed like buyers just were not able to muster enough momentum to derail SPY's downward move back below $200.00. As of 11:38 PM ET, /ES minis were trading 17.50 points down which could spell trouble for SPY             with a significant gap downward Wednesday morning. If SPY             opens below $200.00, I think the ~194.00 target is pretty much set in stone by the end of the week or early next week at the latest.

TECHNICAL ANALYSIS:
  • Candle: Doji (Bearish-Stock was mixed all day today but was still unable to keep it green past close

  • Volume: Increasing Selling Volume ( Bearish )
  • Stochastic (Slow): %D hovering around 30, %K descending, but greater than %D - Nearing a cross (Bearish-Sellers still have control of the market)
  • MACD: Histogram negative and descending, MACD below signal ( Bearish )
    Overall Trend: Downward-20 day EMA (Blue Line) just about to cross 200 day EMA (Blue Circles) (Very Bearish )

Agree? Disagree? Any feedback would be greatly appreciated! Thanks, and happy trading!
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out