SPY Weekend update

• Price is reacting negatively from 200 SMA and the resistance line.
• For Bulls price has to stay above 200 SMA for continuing the current up move.
• MACD is looking good for some more up side But price has to support bulls by breaking above the resistance line and 200 SMA.
• This entire up move is a corrective one for the fall from 134 levels and this up move is not supported by an increase in volume as shown in the last chart. Hope for bulls is a breakout above 200 SMA along with volume spike. If that does not happen bears will be in control soon.