When Will SPY Reverse to the Upside?

When Will SPY Reverse to the Upside?

SPY has dropped to ~104.5 support level again. If SPY holds here it would make for a powerful reversal. But I think SPY will drop further to 103.1 because the volume still has not picked up. I wanted to highlight two trendlines shown in the chart: A and B. One of these trendlines (or possibly both) define the downtrend. SPY has to break these trendlines to make a lasting reversal to the upside.

LOADING
(optional)
(optional)
Copyright 2009. All Rights Reserved.   Site Map
Disclaimer: All content on spychart.net is intended for recreational purposes only. Consult a licensed financial planner before making any decisions with financial ramifications. The author is not liable for any financial, mental, physical, or spiritual loss or damage incurred by the reader.