SPDR S&P 500 (SPY)

[Belek]

well here is what he said in this weekends newsletter...............

The Industrials joined the S&P 500 and NDX dropping decisively below the bottom boundary of a large Rising Bearish Wedge termination top pattern from October 2013, which is very Bearish. Downside price targets are provided by these patterns, their beginning. Those levels are substantially below current price levels, 14,750 for the Industrials, 1,665 for the S&P 500, and 2,800 for the NDX. It is unclear if these levels will be reached over the next two weeks or will be hit after a multi-week recovery.

I'll leave it at that.........
Jeff
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