SPDR S&P 500 (SPY)

[learningboutinv]

Gleno, agree with DCB/Reverse, but I think it'll be a good place to short the bounce. I think $NDX 1775 or even march lows are possible (Comp 2200). 9 new nasdaq highs? Nasdaq still has some ways to go to hit the weekly trendline.

SPX out of price channel and needs to get back in to short more. $SPXA50R in reversal territory. This doesn't mean we won't go down lower, we just need a bounce so that it can go lower and put some fear in the $VIX/$VXN/$VXO. $SPX dropped slightly below 2005 weekly trendline.

DOW dropped below 2004 Weekly trendline!

I am looking for Scam's DD (double deuce) and 3-DD (triple Deuce) which are quite rare for re-entry into longs as they typically begin to signal bottoming formations and a trend reversal.






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