SPY

SPY is in danger of closing below 15-MMA, which has yet to happen since the bull market started. SPY is now down 8 straight days, and it is still not oversold. I have no clue what it will do tomorrow, but I’m still keeping my shorts as they have room to go lower.

CME (BOUNCE Pattern: BUY)

   CME showing BOUNCE Pattern on the weekly chart. I don’t like how the CME closed though, so I plan on either selling all or partial shares. My stop will be placed low of last month. 

SPY Obeservation 10.09.07

Avg. duration when SPY closes above 5MA: 6 months
Avg. duration when SPY closes below 5MA: 2 months