10 Facts: $SPY Chart 1/4/15


  1. Price is still above both the 50 day and 200 day moving averages and both longer term movign averages still slanting upwards signaling the long term up trend remains in place.
  2. The short term uptrend has lost momentum with price currently at the 5 day ema and under the 10 day sma.
  3. The 5 day ema crossed under the 10 day ema for a short term go to cash signal Friday.
  4. One more down day could trigger a sell signal on the MACD.
  5. RSI is slightly bullish but basically neutral at 52.22 a close below the 50 RSI will signal a potential pullback.
  6. While Friday did have a reversal candle, price settled at below the opening price and slightly below the previous day’s close showing there were dip buyers but buyers were not willing to drive prices higher.
  7. $SPY has had three consecutive days of lower highs and lower lows.
  8. December 30th’s close below the previous days lows was my signal to take my profits from the $SPY $198/30 RSI entry level.
  9. High probability set ups are the 50 day sma at $203 and the 30 RSI if we have a large pullback.
  10. A break over a previous days high of day would be a sign of returned momentum.