AMEX:SPY   SPDR S&P 500
192 5 4
Notes on chart. I'm not entirely sure price will meet this target. But the target of the pattern is 198ish
If the market opens lower today, it's certainly might reach 198 by this afternoon.
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Two big days down in a row unlikely in this market. But oil actually closing below 50 , like a magnet, has to draw many with it. This is not business as usual, chart wise, don't you think?
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This last move up, rounded top, was "false", dollar strength, oil weakness, Saudi war on fracking, we are getting caught in the crossfire. After we pass 198, what next? I had us going to 196 ish, but can't line that next stop up with anything significant but the 196, can you?
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claydoctor PRO claydoctor
200 day MA? Perhaps?
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KLang PRO claydoctor
I'm not entirely sure we get there, honestly. That's what pattern I see, though. Put the 150dma on it. It's been very good support on the daily and aligns with 198.
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