- 11 month downtrend mode: We need to cross it down and stay under it to trend down.
- 50% uptrend speed line support: This line should be broken forcefully while falling. Else we'll see a reaction like on the previous bounce.
- Brexit key level: It'd be good to break it down to hold shorts with confidence.
- 75% retracement of Vix spike, smart money support: If smart money doesn't get involved buying against this level, we can hold shorts and relax in the position.
- Daily downtrend mode, we have a 12 bar mode between 208.35-208.37, which will trigger a downtrend signal in the daily, aiming for 196.15 before the 21st. If this confirms, and acts as expected, the monthly signal will surely trigger and send SPY down to the forecasted target in my related monthly idea.
Check out my updated track record here: http://pastebin.com/6CyyqnPT
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Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.49% on such information.