trading date: June 27, 2016 –
A terrible Friday for all markets: it is possible a small powerful bounce. After that, Bearish phase will continue for long time so less violent than Friday. Timing is very difficult: it’s dangerous take a short position now.
SPY traded in a very wide range on Friday.
Support will lie at Friday’s low at $$202.72, followed by $202.40 and then $201.74 and $201.05.
Resistance will lie at 100-Day MA at $203.38.