Market Breadth Data******************************

Thursday, August 20, 2015

$SPY Weekly Trend and Price Targets

Although it seemed like an aberration at the time, and is not visible in the SPX, the December 18th SPY price spike marked the top of the '15 trading range:

SPY is currently testing the middle of that range amid abysmal breadth readings for the last three days.. Failure of support at these levels should result in a retest of the bottom of the range around 197-198, or another 80 point drop for the SP500.

The other major indices (DJIA, QQQ, IWM) are already testing the bottom of their respective '15 ranges:

In the case of DIA, the Bottom Finder indicator is already flashing its highest reading since Nov. '12
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