JWilde

$SPY analysis using weekly Ichimoku & Fibs

AMEX:SPY   SPDR S&P 500
SPY             closed below the weekly Kijun and daily kumo, would like to see this hold $265 for two days before initiating any new long positions. RSI divergence and MACD bearish crossover is something to watch. Monday should be telling as to whether the EOD             run was short profit taking or a true reversal. Very possible we hit the 38% Fibs before resuming the uptrend in the current bull market. Trade safe!
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