Wednesday, September 9, 2015

SPY Update 9-9-15

Click on Charts to Enlarge

These charts show some of the best comparisons to the current market environment.  The blue arrows show where I believe is a corresponding region in the pattern to our market right now.

Some of these instances broke above the initial reaction high briefly.  Other only retested it before a break or deeper retest of the "crash" low.

From the qualitative comparison as well as the stat scan that I have run, it seems likely to me that some short term weakness is ahead.  

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