just my personal opinion ;-) again the pattern looks bullish to me, if 168 holds the next days and SPY could break out again
Comments
BEI
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I agree that maybe SPY has been showing good signs for the bull case, but it needs a 20-30 dollars reload before going any higher than 173...alot of divergence and bearish signs on higher time frames, careful you must be. 173 can even occur after 167, but this eventually goes down before can get any higher
JederkannGlueck
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yes, you are absolutely right, it's not the time to go long without hesitation, espacially today we saw a gap up and another retreat from 171, seems the bulls get cautious. A drop to 160 wouldn't surprise me, till the beginning of November. Wouldn't be so bad for the bulls on the mid term. So I don't like to fight the trend and trade what I see only. If we drop below 168 I'd think about some more bearish trades.
osci
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seasonal spx over 37y shows a high in the middle of oct. seasonalcharts.com/classics_sp.html but if there is tapering i doubt the higher high in october....
JederkannGlueck
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thx - very nice homepage, but without the financial crisis unfortunately ;-)
it could be true, that we see a drop in the next weeks, too - let's be careful