Replies to post #129300 on SPDR S&P 500 (SPY)

[MuRk MoNsT3R]

Needs to put in a higher high then yesterday for confirmation and be above the 8dma true ? Re: VXX reversal

[risk on]

Great eye, I spotted the counterpart Bearish harami formed nicely on the SPY daily. Haramis are indicators best used when not in an absolute directional mode, as shooting stars or hammers do to indicate a pivot after a longish run up or down, respectively. Haramis are great to indicate direction when in a broader choppy indecisive period such as we have seen over the past 10 periods on both SPY and VXX. Think we see a down move on spy, with intensity tbd as it goes and evolves. That gap up above 195 recently, and the one at 191ish need filled, and my puts have been awfully patient. ;-)