CosmicDust

SPY weekly - cautious - 10/24/2015

AMEX:SPY   SPDR S&P 500 ETF TRUST
spy
market had a remarkable 2 days rally, SPY managed to close above 40 week MA, which exceeded my expectation. Given the red resistance on price and RSI, I want to be cautious entering next week. Given it is only several percent away to previous all time high, down side risk is increasing. If it can take out the red resistances and make an all time high like above $213, I will be bullish again.
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.