SPY In this 2009 weekly chart, we saw the ff:
1) dma 50 x dma200 (deathcross) also wma20x50
2) price created a low, then bounced up to retest dma200 (wma50) but was rejected down
3) price went down back to retest that low. (The present low was the June low around 3636, a major decision point)
MAJOR RISK AHEAD: Now we have to see this week if SPY will recover 3636. (A slightly lower low may happen probably to 3500 to create a divergence for an oversold bounce)
*a 2009 scenario repeat will see SPY just waterfall thru 3500 to next supports at 3400/3200/3000/2800
*wma 50 will then cross wma200 (deathcross on weekly)
Not trading advice. Proceed with extreme caution!
1) dma 50 x dma200 (deathcross) also wma20x50
2) price created a low, then bounced up to retest dma200 (wma50) but was rejected down
3) price went down back to retest that low. (The present low was the June low around 3636, a major decision point)
MAJOR RISK AHEAD: Now we have to see this week if SPY will recover 3636. (A slightly lower low may happen probably to 3500 to create a divergence for an oversold bounce)
*a 2009 scenario repeat will see SPY just waterfall thru 3500 to next supports at 3400/3200/3000/2800
*wma 50 will then cross wma200 (deathcross on weekly)
Not trading advice. Proceed with extreme caution!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.