SPY Reject of longterm weekly/monthly trend since 2011

Short

SPDR S&P 500 ETF TRUST (AMEX:SPY)

Updated

AMEX:SPY SPDR S&P 500 ETF TRUST

Trend Analysis

trendanalysis

Can short starters then add on lower highs

Comment:

- Lots of selling pressure near previous all time highs at $340. Above $345 will cut and reassess

- $300 key support & psychological level + 200 daily ema will be an important level to watch

Comment:

Short term trendbreak on the daily. Added starters on $SPXS on friday. Will add to full size once $300 and 200 ema confirms as resistance.

Comment:

Cut the starters. Will reassess as price develops in the upcoming week

Comment:

Price is still trendline above 9 MA on both weekly, monthly timeframe. Until price confirms below sitting on sideline

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