I just posted the Monthly SPY chart which looks bullish to me. The Weekly looks more bearish. Priced closed well below the previous weeks close and below the trend line.
We have also had a 9/21 ema cross on the daily and the 200 sma and 382 in this posture can act as magnets for price. I believe the pressure is less about strong
selling and more about lack of buyers. A lot of money is likely to stay on the sideline until the direction forward is clear. Check out my lower time frame charts
in previous posts. I have identified key areas to watch.
We have also had a 9/21 ema cross on the daily and the 200 sma and 382 in this posture can act as magnets for price. I believe the pressure is less about strong
selling and more about lack of buyers. A lot of money is likely to stay on the sideline until the direction forward is clear. Check out my lower time frame charts
in previous posts. I have identified key areas to watch.
