SP500 Analysis for March 2016

$SPY

  • Long-term price channel(since 2011) is broken (bearish)
  • 50 SMA crossover the 200 SMA (bearish)
  • Important price support level is ~182
  • Important price resistance level is ~210
    • IMO, a good swing short entry with a good risk/reward
  • As of March 1st, price is trending up above the 50 SMA and now I am eyeing the price action around the 200 SMA (lower high at 200 SMA would be ideal)
  • Percentages:
    • 15% Correction is ~182 (possible support)
    • 20% Correction is ~171 (possible support)
      • >20% Correction of highs is my indication of a bear market

SPY 2016

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