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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 694.04+0.7%Jan 9 4:00 PM EST
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Kirk ©
To: Kirk © who wrote (65168)10/13/2014 2:38:20 PM
From: Chip McVickar1 Recommendation   of 221579
 
Hello Kirk...

1893.22 (daily cash chart) is a solid fib 1.618 retrace off the high of 2019.00
...that was an earlier target of mine that I posted here
...there's a time wall on the Oct 14th
...finally your noted 200 sma
...so is a 6.4% decline enough to satisfy the street...?

Daily pitchfork holding price is downward
...price has closed below its median line and has actually fallen off so its the lower tine rests at ± 1850 an 8.3% decline

... finally there is another lower 1.618 fib at 1880.33 - (which near the 33% line of a pitchfork)
...plus I'd like to see the RSI-14 below 30
...and we have another week before the market psychology will change

So my best guess is they will not buy the 200 sma

Chip
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