CosmicDust

SPY monthly - consolidating within triangle - 1/2/2016

AMEX:SPY   SPDR S&P 500
spy
SPY             closed year 2015 with bearish tone as 10 month MA made a lower high, and price closed below 3/5/10 MA. 3/5 MA is below 10 MA. MACD continues to worsen.

For first half of 2016, SPY             has 2 important support lines (in red color). These lines need to hold or else. I will be bullish again if it can go above the blue resistance.

So far I can see it may still be a ranged market, that may provide good swing trade (not holding) opportunities.
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