SPY - SPDR S&P500 ETF - TIME AT MODE NEW SELL SIGNAL
To add to the previous sell signal of 9 days generated back on the 24-25th of March, there is a new 10-day sell signal that triggered at today's close. The sell signal will be enhanced if SPY is down on the day tomorrow, and additionally if it is down by at least 1.8 pts (which sounds obvious, but it can accelerate down from that level).
Note the exceptionally low level of VIXY, which indicates market players are not looking for a volatile move down from here, when this looks to me to be the time when it is HIGHLY probable.
Look for the 200 day moving average to provide some support and a decent bounce, but then it will very likely give way and lead to an accelerated decline that clears out many longs (margin longs). It looks like speculation needs to be wrung out of the market, but time will tell.
Stay tuned!
Tim 4:13PM EST 206.43 SPY March 31, 2015
Note the exceptionally low level of VIXY, which indicates market players are not looking for a volatile move down from here, when this looks to me to be the time when it is HIGHLY probable.
Look for the 200 day moving average to provide some support and a decent bounce, but then it will very likely give way and lead to an accelerated decline that clears out many longs (margin longs). It looks like speculation needs to be wrung out of the market, but time will tell.
Stay tuned!
Tim 4:13PM EST 206.43 SPY March 31, 2015
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