Get started
Mart_Rosenfeldt

SPY weekly close below the TRENDLINE leaves it vulnerable

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
Mart_Rosenfeldt Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Wave Analysis
10
6
trendanalysis chartpattern waveanalysis
After 4 weeks of massive selling & liquidation, SPY managed to climb about 18%, but 30 minutes before the market close on Friday the bears took over and the weekly candle closed below the long term support.
This indicates that the selling will continue this week and the market will test the lows.
Comment:
snapshot
Bears are in charge again, futures are down 3% and if we break 244 then it's very likely we will go down to 227 and then a small bounce up from there.
snapshot
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.