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Friday, August 20, 2010
SPY Daily Chart w/Today's Intraday Prices
-All indicators pointing to high probability of further price declines in SPY. 1) Linear Regression less than 0 and below its moving average. 2) Volatility Signal less than 50 and declining. 3) Estimated Future Volatility Indicator above its moving average. 4) MESA Sine Wave crossed below MESA Lead Sine Wave. 5) MOST NOTABLY, Stochastic Oscillator crossing below its moving average without having risen to overbought levels.
- Current bearish view since SPY opening price of 110.65 on August 11 continues. New short-term trendline drawn to show profit stop of 109.65 as of today's date.
- Estimated Future Volatility Indicator's value is at 24.22 vs. Implied Volatility level of SPY at 25