He girls and guys, I have been watching the SPY for some time now and still think it's going down next week for these 3 reasons:
1. The average volume on the market is getting weaker.
2. Volume and MACD is diverging in relation to price action; they are going in opposite directions.
3. A FED raise hike could trigger a market correction.
Please do your homework...
Stocks running up since the elections while volume is going down signaling a change in trend coming soon.
DISCLAIMER:
DO NOT PLACE ANY TRADE BASE ON MY PERSONAL ANALYSIS AND INSIGHTS. YOU WILL BE RESPONSIBLE FOR ANY FINANCIAL LOSS. ALL ANALYSIS PUBLISHED HERE ARE FOR EDUCATIONAL PURPOSE ONLY.
Strong uptrend since Feb. 2016.
Already touched the support line at $707.
MACD indicator oversold.
Please leave your comments below and tell me what you see.
DISCLAIMER:
DO NOT PLACE ANY TRADE BASE ON MY PERSONAL ANALYSIS AND INSIGHTS. YOU WILL BE RESPONSIBLE FOR ANY FINANCIAL LOSS. ALL ANALYSIS DONE HERE ARE FOR EDUCATION ONLY.
Strong healthy uptrend since the beginning of the year.
Could go down even more. If so, strong uptrend to resume by the end of the year or early next year.
Also a possible FED interest rate hike could trigger higher prices. Put SLV on your watch list.
Suggestion: Watch the Commitment of Traders Report.
