Replies to post #59282 on SPDR S&P 500 (SPY)

[euterpe1]

LB,

I am showing 9/9 and 9/20 as turn dates(9/19 and 9/22 are Friday and Monday respectively).

If you look at this chart, I would say we will consolidate here, but my belief is that we resume downward again. Note how far price has gotten away from the mid BB.

http://stockcharts.com/h-sc/ui?s=RYVNX&p=D&yr=3&mn=0&dy=0&id=p23754563117

The weekly does not appear to be overbought so the trend should continue down once the extreme overbought condition is relieved.

http://stockcharts.com/h-sc/ui?s=RYVNX&p=W&yr=3&mn=0&dy=0&id=p40598771593