New York  London  GMT  Tokyo  Singapore 
John Lee

Charting: S&P ETF, SPY, Is Looking Bearish

By John Lee on October 4, 2008 | More Posts By John Lee | Author's Website

I was asked to analyze the S&P ETF SPY (SPY). The ETF made a new low on Friday and it won’t be the last one, that’s for sure. You really have to look at 5 and 10-year charts to see where the SPY really is and how much further down the ETF possibly has to go.

The SPY has some support at this current 110 level, but I doubt it will hold for long. Especially looking at a 10-day, my choice to be bearish on the SPY comes as obvious. I highly DO NOT recommend any long positions in the SPY.

SPY Year-to-date chart

SPY 5-year chart

SPY 10-year chart

If you like this article please...
Subscribe by RSS Subscribe by Email Email This Post To A Friend Email This Post To A Friend

Leave A Comment :

Name (required)
E-mail (required - never shown publicly)
URI
Subscribe to comments via email
Your Comment (smaller size | larger size)
You may use <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong> in your comment.
Opinions From Our Contributors
Commodities Financials Exchange Traded Funds
Stocks Forex Economy



HEADLINES
UPCOMING EVENTS
In 12 hrs: NZD Visitor Arrivals (OCT)
In 14 hrs: AUD New Motor Vehicle Sales (MoM) (OCT)
In 14 hrs: AUD New Motor Vehicle Sales (YoY) (OCT)
In 19 hrs: JPY Supermarket Sales (YoY) (OCT)
In 22 hrs: EUR French Purchasing Manager Index Services (NOV P)
Enter Your Email Address
Theme By: WordPress Theme Shop