Sep 29 2019 - SPY Prints Second Bearish Engulfing In A Week

The S&P 500 ETF (SPY) printed its second 'bearish engulfing' candlestick pattern in the same week and it also probed below its 50-day SMA on Friday. Caution remains warranted as we head into this week. If SPY closes below its 50-day SMA, the next technical downside target would be the August lows (about $10 or 100 S&P points lower).

Have a great day!

Ron

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