CosmicDust

SPY weekly - cautious - 10/24/2015

AMEX:SPY   SPDR S&P 500
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.
IN most recent cases when it dipped and went back up to touch, it dipped again before breaking it (if not going lower)
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