Follow Up

Due to some significant moves today, here is a follow up to last week's charts. Most notably, there is SPY, which closed below 80. Be aware of the possibility of a reversal, such as the one that took place in November (SPY went from 74 to 90 in one week).

Assuming that doesn't happen again, 75 will be the next target. There will be a bounce between now and 75, so don't chase.

Short term conditions are getting oversold (2 & 5 day RSI), so as usual, either cover, or wait for some strength before getting short. Shorting oversold stocks is a guaranteed way to lose money in the long run and usually in the short term as well.

SPY



X



TIE



MA



OIH



JPM



XLE