SPDR S&P 500 (SPY)

[NetNeutral]

Trend Update, 160429, as of Thursday’s Close (Q’s in Downtrend, SPY triggers SELL Signal)

SPY (posted day 49 yesterday of this Up Trend!)

The SPY has BROKE the Up Trend Line on the Close on Thursday 4/28 (208.41 was the Trend line), and is likely to Signal a Change in Trend today with a Close below 208.67?

2/22, Down-Trend broken and SPY triggered a trend change
4/28, SPY triggers a SELL Signal and Closes below its Trend Line, 208.41, in Dramatic Fashion
4/28, SPY closed at 107.45 (Up 3.7% for the Yr, Up 1.0% for the Month)
4/29, SPY MUST Close above Trend Line, 208.67, today to avoid a Trend Change and join the Q’s!!!


Q’s (posted day 4 of the Down-Trend, Weakness Continues – SELL any bounces)

The Q’s have BROKE the Up Trend on the Close on Friday 4/22 (110.10 was the Trend line), and is already in a SELL-the BOUNCE trend!

2/22, Down-Trend broken and Q’s triggered a trend change
4/22, Up-Trend broken and Q’s triggered a trend change
4/28, Q’s closed at 106.28 (down -3.2 % for the year, down for -2.6% for the month )

OBVIOUSLY we have a situation that Warrants Caution, BUT, today's price action can get our attention if we can manage to CLOSE above 208.67???

More to come during the day as price plays out...