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Nikuma

SPY still in a weekly downtrend

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
Nikuma  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis spyshort SPDR S&P 500 ETF (SPY) S&P 500 (SPX500)
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trendanalysis spyshort spy spx500
SPY just touched the 200 SMA on the weekly TF and all major moving averages are still pointed south.
If we close the weekly candle outside the Bollinger Bands it is not looking good for the bulls.
The momentum oscillators still have plenty of room to go to the downside.
I expect more downside in the coming weeks. The next target is 210.
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