SPY: Head and Shoulders!

SPY broke the neckline and formed a Head and Shoulders yesterday with increase in trading volume. If SPY cannot get above this neckline at about $105.6, this ETF will go down to $89, which is also close to the 61.8% Fibonacci Retracement Level.

This Post Has 2 Comments

  1. RL

    DJIA and DJTA have given a Dow Theory sell signal last night.

  2. Marubozu

    The bear is awakening! DJIA below 10,000 psycological level now and today starts of Q3. No more window dressing effect in 1st half. Let’s see what fund managers are going to do!

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