AMEX:SPY SPY is not in a good shape in the week of the quadruple witching day.
Key levels, in my opinion, to look ahead:
1) EMA cloud zone support at 293 (if it breaks 293 then a trend reversal is confirmed and spy will head lower);
2) 0.618 fib-retracement at 283;
3) VMAP since the bottom in March at 278;
4) Prior (April and May) support lever at 276.
NASDAQ:QQQ already broke through the rising channel from April to June, thus the ongoing correction could possibly bring QQQ further down to its prior support level at 215 (also 0.618 fib retracement). The stop-loss level is set to the prior high at 248. Things are very unpredictable in the market, it is possible that things happening now are exactly like what it...
AMEX:GLD GLD continues to vibrate in a box with the lower price at 158 and the upper price at 165. If the market continues its bull run, GLD may break the bottom of the current box range at early July (around 7/5) when it for the 4th time touches the bottom and when it reaches the underlying support line shown in green.
NYSE:HTZ Hertz has broken the ema cloud resistance at the fourth time and has returned to the cloud looking for support today. If stock price successfully finds its support near the cloud zone, this might trigger a buy signal and hertz could potentially go up to the 0.382 fib retracement target at around $8.
