Wil’s Analysis of the $SPY Monthly Divergence Pattern

31 Aug Wil’s Analysis of the $SPY Monthly Divergence Pattern

Wil from our chatroom provides his analysis and forecast for the SPY monthly chart. (click chart to enlarge)

Here's Jea's markup of the SPY for the upcoming week.  The monthly has been taken over by the bears indeed as the stochastic are under the 80 band with a mini inverse pup and the nearest upside bumper is the monthly 15 period ma at 203.50 is too far away.  There is still one more day left before the monthly candle close so anything is possible.  The bears will want to end this with a decisive smackdown on Monday. (click chart to enlarge)