he SPY started the week holding over the 50 day SMA Monday but it was downhill from there. By Tuesday it broke below the 50 and 20 day SMA’s and printed a Spinning Top doji. This signals indecision and can resolve either up or down. It decided for the downside with a strong move lower Wednesday. After only a modest bounce Thursday it fell again Friday to end the week near the lows. It did hold the recent support zone that has been in place since mid December. The RSI on the daily chart is testing the 40 level again while the MACD has crossed down. The risk is to the downside on this timeframe.
CREDIT GOES TO THE AUTHOR作者: GreatWallchn 时间: 2015-2-2 00:05
