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!
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