Critical few weeks coming up for the SPY.

As predicted in my previous analysis awhile back; we did bounce off of the 200 weekly moving average and we have seen a respectable rally to the upside. However, we are now coming up to test the lower time-frame moving averages (10 and 100 weekly moving averages,) and if price fails to break back above and hold them as support again, I suspect my original dead-cat bounce off of the 200 weekly moving average theory will come into fruition. I still remain bearish overall on the stock market at this time. If we get rejected at the 10/100 weekly moving averages, we would need to see the 200 weekly moving average hold again as support. If it does not, and we fall below it and see it act as new resistance, we could be entering into a bear market. If we climb back above the 10/100 (and eventually the 20/50) weekly moving averages and hold them again as support, I will change my bearish stance.

-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk.

Previous posts on the SPY:

12/26/2018:

Don't be fooled by a dead-cat bounce off of the 200 weekly MA.

12/19/2018:

SPY breaks the 100 weekly MA and a key support level.

Deftsuo

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Deftsuo

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