SPDR S&P 500 (SPY): I think it has paused in the downtrend,...

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livinginthelimelight

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livinginthelimelight

Re: thefranchise post# 178244

Thursday, 01/14/2016 4:16:17 PM

Thursday, January 14, 2016 4:16:17 PM

I think it has paused in the downtrend, which typically means some type of relief rally. I use a 140 sma and when an asset is at a big discount, the odds favor a rally back towards it. If you would like, PM me your email and I can share a chart. I can't post it on the board.

I am by no means saying oil has bottomed, I just feel based upon the chart, that it will have a small bounce.

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