Replies to post #150935 on SPDR S&P 500 (SPY)

[k9painter]

very interesting!!!

[risk on]

Here's chart evidence to support that.

In fact here is a monthly chart of twenty years, showing the 2000 dot com crash, 2008 financial crisis crash, and where we are. Look at the YELLOW LINE, which is the 9 period ema, aka the " T LINE". In each incident previous after a sustained run up, once that T LINE was breached, prices tumbled. Not always an epic tumblE, But none the less, it's SALIENT. We are currently BELOW the T line , and unless it runs back over to apx 204-205 and closes above, we may see the same as previous history shows.

ALSO.... In 2008 and 2000, the monthly candle formed both had LONG BOTTOM WICK , for the month ending prior to the drop, indicating a one last hurrah and fail of the T LINE . Should we see rise Monday, the candle will be almost identical to the previous times.