CosmicDust

SPY - long term trend may have turned - 1/28/2015

AMEX:SPY   SPDR S&P 500 ETF
spy
127 2 1
spy
Only two trading days left for January. If the Fed is willing to fix the market (like someone coming out and say something...), the time is NOW!
MikeLloyd
2 years ago
What if this leg forms the second bounce as you display on the second of both trendlines. I don't think there is a clear confirmation yet.
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CosmicDust MikeLloyd
2 years ago
Yes, it is possible. If the price cannot go back above the trend line by the end of the month, especially if it is closed under 10 month MA, I would bet further weakness rather than a future bounce. Even in an established downtrend market, there will be powerful counter trend rallies.
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