HomeFreeSPY-8-21-15-End Of Day

As expected the leg down commenced in full swing today;

It opened up below the AB=CD PRZ, usually a good sign that the move will continue.

On the 3min chart it tested the 113%BC (the lower range of the PRZ on the daily chart) from below within a penny.

Subsequently it traded between the 78.6 and the 88.6%XA levels (daily chart), literally within a penny of these levels.

In the last hour selling increased and SPY closed right at the February 2nd low.

SPY-08-21-15-3min-EOD

 

Break below the February 2nd low, brings the 113, 127, and 161.8%XA levels of the daily chart in play.

SPY-08-21-15-daily-EOD

 


Comments

SPY-8-21-15-End Of Day — 1 Comment

  1. Pete, dis is grate! a much simpler gap rule than looking at 10dsma vs prev close & ATR5 value vs gap value.

    hope your size was large! 30k this week ++

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