Loading ...SPY & NYSE Composite
I know some are looking for a parabolic rise in the SM from here but I don’t see it. The SPY chart suggests big money has been unloading to the little guy and the NYSE composite chart shows resistance is still in control at current levels. I think the broader markets begin to fall soon and retest those Aug lows….frankly I think we’ll see lower lows and then perhaps MA’s slingshot move to higher highs in 2016 just as the little guy runs for the exits fearing 2008 all over again.
There is support at the hump around 198. It’s entirely possible that area may provide a floor. There’s no way to know until we get there.
I agree….that area does suggest possible support,