SPY sitting around support area and 50 DMA

I was expecting a move lower on indexes as we were way over extended.

I see support with .618 Fib level $447 , 50 DMA = $453 and the weekly time frame trendline is in this area.

Also, we have a left shoulder and head formed, so watch out for right shoulder to form. (right shoulder should be higher than left, so a retest of 458-460 area.)

FOMC is on Dec 15th, so we might rally here and then see what JPow has for the markets.

I picked up NEM (Gold miner) as seasonality play last week, so not going long any stocks yet. GL!