SPY closed year 2015 with bearish tone as 10 month MA made a lower high, and price closed below 3/5/10 MA. 3/5 MA is below 10 MA. MACD continues to worsen.
For first half of 2016, SPY has 2 important support lines (in red color). These lines need to hold or else. I will be bullish again if it can go above the blue resistance.
So far I can see it may still be a ranged market, that may provide good swing trade (not holding) opportunities.
For first half of 2016, SPY has 2 important support lines (in red color). These lines need to hold or else. I will be bullish again if it can go above the blue resistance.
So far I can see it may still be a ranged market, that may provide good swing trade (not holding) opportunities.