at the bottom of this weekly SPY chart is the SPY price action plot with the 2-year BB setting represented by the 104,2 weekly BB setting
* as of January 17, 2020 the SPY price action had resided above the SPY 104,2 weekly Upper Bollinger Band on a steady basis and this is what the bullish case was counting on for the future action into 2020
BB's adapt to the most current chart development by the price action and that is why BB's are to be believed NOT necessarily faded because price action appears to be Over Done
monthly SPY and monthly RSP with 15,2 Bollinger Band settings
* greater relative price strength by the 100 largest Market Capitalization dollar size stocks contained within the $OEX index and also within the S&P 500 index is the only reason the SPY is attempting to hold near/above its monthly lower Bollinger Band, while at the same time RSP has consecutive monthly prints below the monthly lower Bollinger Band, and RSP price location relative to its monthly lower Band needs to improve to support a lasting price advance by SPY and $SPX
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