Moshkelgosha

Is this a good time to buy the dip???

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
My answer to this question is: No this is not a good time and we are going to see lower prices in the next 2 weeks and then there could be recovery!
50 days rate of change is negative and SPY seems rejected from 50 days EMA .

Most probable scenario:
another leg of decline in the next week:


You can see the most important support(green line) and resistance (red line) levels.

Best,
Moshkelgosha

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