TomPip
Long

SPY Possible reversal after closing at Low Of Week (LOW)

AMEX:SPY   SPDR S&P 500
spy
I saw an interesting chart a while back on TV from a user whose name i can't remember anymore. The user showed that when a week closes near or at the Low Of Week (LOW) it has a high probability of reversing the next week. Not a general rule, but i think it was ES/SPY specific.

I'm not taking nor holding any position with SPY             . I also don't see it making a new ATH             and i have a short bias for all indices at the moment. Just a thought i wanted to share.
will see a relief rally/ dead cat bounce up to 204-205 next week
+1 Reply
TomPip YoungMula
Hopium that too to get a better entry :-)
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TomPip YoungMula
I guess market will watch Asia to set the mood for next week.
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that red candle is disastrous
TREND chnage

Getting Tight
+1 Reply
TomPip ChimbOt
Pretty much, yes.
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