AMEX:SPY   SPDR S&P 500 ETF
306 3 3
15 min presents two bullish possibilities -notes on chart
JCrusadr
2 years ago
Looks like a strong possibility.
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claydoctor
2 years ago
yes, i.e. markets up and VXX up (at times), tough market to call right now.
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How much is par coming into play here? SPY $200 and S&P 2000 seem to be the psychological floor since mid December. If the floor forming in oil holds next week I think we rally from here, can't say how much but for me enough to make it worth going long Friday at trend reversal at the 10/20 MA cross on 1 hour candles. This particular MA cross has worked well since entering the December dip. Volume came in heavy enough into the end of trading Friday to give me some confidence. Agree that the big picture may have a larger drop in the cards, but I think this little rally will have some legs and be worth a few percent to the ETF trend follower types. It will be sold at the first signs of failure though. If we see a 10/20 cross in the other direction before we get out of this hole I will manage risk and go short. In my mind timing the failure of this rally with some well placed short bets could net one some large profits quickly if things go that way.
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