Replies to post #108385 on SPDR S&P 500 (SPY)

[denmo83]

A couple things...

First thing to watch on the downside is what happens at 1114.86, the 200dMA, if they take it down there. Will it slice right through or pause? No way of knowing but it will say a lot about what happens afterwards. Slicing right through says they are selling no matter what and longs should pay attention. If it bounces, it says the selling is controlled.

Then I would watch 1104 tomorrow, which is the limit of where the wick can roam to and still keep the uptrend intact.