Eye on the SPY! What I'm seeing and the potential moves.

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SPDR S&P 500 ETF TRUST (AMEX:SPY)

AMEX:SPY SPDR S&P 500 ETF TRUST

Trend Analysis Chart Patterns Beyond Technical Analysis SPDR S&P 500 ETF (SPY) spyshort retracement bearishtrend

trendanalysis chartpattern beyondta spy spyshort retracement bearishtrend

This movement we saw going in to Memorial Day Weekend doesn't give me confidence in the market reversing out of this corrective movement. There are many factors that make me think this is just a breather before we see more down trend. I will need to see more levels shattered before I see a clear uptrend. For now, I'm just playing the directional momentum, and waiting before I commit to more exposure in investments.

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As always, please let me know if you see something I didn't catch.