SPY SPDR S&P 500... Simply LONG but get IN on the right moment..
As we cab see we expected strong reversal signal from the area between 260 and 255 which indicated by MFI and RSI and stochastic .
SPY is inside large uptrend colored orange. the volume had been declined for recent seasons which show less selloff . properly SPY will make a new support below 260 then targeting DEC-JAN at 290 . even its broke 250 SPY will have strong upward trend at least to the point 281.
Stochastic : showing that will confirm the support then turn up ward.
RSI will get into the down trend and bounce up . if broke it then bears will be more strong and SPY will drop further
MFI expected to turn down again then bounce unless we see high volume on Monday trades!!
Summery:
Watch carefully between 255-261 and get long positions once all indicators turns up again..
SPY is inside large uptrend colored orange. the volume had been declined for recent seasons which show less selloff . properly SPY will make a new support below 260 then targeting DEC-JAN at 290 . even its broke 250 SPY will have strong upward trend at least to the point 281.
Stochastic : showing that will confirm the support then turn up ward.
RSI will get into the down trend and bounce up . if broke it then bears will be more strong and SPY will drop further
MFI expected to turn down again then bounce unless we see high volume on Monday trades!!
Summery:
Watch carefully between 255-261 and get long positions once all indicators turns up again..
