Trucharts.com SPY chart update 12/16/14:
We added the chart below to show the current state of the SPY. We expected a bounce of the 50d SMA and we did see a bounce this morning but a pullback at the end of the day. The RSI looks oversold but the MACD is not done going down yet and the close below the 50d is worrisome. We expect the 50d now to become resistance to any up move but we would take profits. We are short DAL (www.trucharts.com/stockview.apsx/TICK=DAL)
and YHOO, AEM and IBB. We think SPY could go to 190.
Check this chart - we are headed to 50d SMA for SPY - get your powder ready for bounce of the 50d SMA:
We added the chart below to show the current state of the SPY. We expected a bounce of the 50d SMA and we did see a bounce this morning but a pullback at the end of the day. The RSI looks oversold but the MACD is not done going down yet and the close below the 50d is worrisome. We expect the 50d now to become resistance to any up move but we would take profits. We are short DAL (www.trucharts.com/stockview.apsx/TICK=DAL)
and YHOO, AEM and IBB. We think SPY could go to 190.
Check this chart - we are headed to 50d SMA for SPY - get your powder ready for bounce of the 50d SMA:
No comments:
Post a Comment