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

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SPY just broke the 100 weekly moving average and has broken below a previous support level as shown by the white line around 254-255 that had held the price back in February and April. I suspect it will retest the 200 weekly MA around 234-235 which is approximately a 6-7% drop. If the 200 weekly MA does not hold, we could be setting up for a longer-term recession as we enter into 2019.

Moving average guide (all weekly for this chart):
10 MA in orange
20 MA in pink
50 MA in green
100 MA in yellow
200 MA in red.

٢١ ديسمبر ٢٠١٨

ملاحظة

Coming down as expected:

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ملاحظة

Getting closer:

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أغلقت الصفقة: تم الوصول للهدف

Target hit around 234-235: