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SPDR S&P 500 ETF TRUST

$SPY - A Blip to the Extended Rally

By theapearmy
SPY continues its strong stock rally following the #FOMC announcement, squeezing shorts and maintaining a daily relative strength (RS) of 77 as bond yields fall. Momentum remains robust, but technicals are starting to suggest a pullback is overdue. Pre-market conditions appear relatively flat, so we'll have to wait and see. I expect a meaningful decline towards the $430 level starting next week with VIX showing signs of a spike and especially after witnessing a month of upside movement.
Chart PatternsFOMCTechnical IndicatorsoptionstradingshortsetupSPDR S&P 500 ETF (SPY) StocksTrend AnalysistwitterVIX CBOE Volatility Index
theapearmy
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