Playing field $SPX $SPY

Spy11Spy111Spxlt

Here are some charts of S&P500/SPY. The daily charts shows the previous marked areas I was watching.

Price action has been to the downside for almost lats week, breaking on Thusrday the simmetrical triangle I was watching for a possible resolution.

Key levels are still the ones marked 115.20 as resistance and 112.50 as support. I would go one level further around the 116.10 are as trendline resistance and 110´s as an important support.

I am posting both the current and previous marked charts so the areas I´m ewatching can be clearly noticeable.

On a longer term perspective, the month has just ended and is showing  20EMA on monthly chart of S&P500 is pointing clearly to the downside, which might increase the downward bias, provided the market closes below it.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s