SPY intraday price high on March 3rd was approx. $2 below the 100-day SMA , which was followed by an immediate & vertical decline into late day and closing below the 150-day SMA
SPY daily closes chart with several key internals -
* bulls need the count of the new highs minus new lows smoothed with the 10-day moving average to recapture and hold above the zero line ... until then, the bears control the internals with a clear trend to the downside
until proven otherwise by a lasting hold above the SPY 100-day SMA -- lower price lows than seen in late February & early March 2020 are more than 50% odds possible, and a lengthy hold below $SPX 2890 to 2933 price zone will be required to eventually target the lower range at the price zone of 2620 to 2860's
time will tell, mechanical brain-dead trading based on chart evidence as it develops is prudent ... no need to think if technical chart evidence is guiding actions to enter and exit ==========================
Glen made a post in recent days about listening and learning from the group of posters who take time out of their life to share what works for them ... Thanks to all over the years who do share
FYI - I am fly fishing, kayaking, biking, hiking until November 2020 ... will be nearly at 100% on mobile devices until then.
No more IHub Posts for me, since time is scarce and valued
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