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CosmicDust

SPY monthly - counter trend rally with a bearish bias

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
CosmicDust Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns
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trendanalysis chartpattern
Market rallied nicely for the past several weeks but from long term perspective, it is not a buy until a higher high breakout.
Comment:
About to break out of the box to the upside, but still needs to be confirmed. Still be cautious as MACD and RSI are not confirming.
Comment:
back into the box. RSI and MACD still bearish looking.
Comment:
Safely to say it is out of the box and on the rise. The plan for this year is going to buy any dip around 10 month moving average, until technicals become unsupportive, like monthly MA turning down, RSI below 50, MACD negative, etc.
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