SPY Weekend Update

• First chart is the SPY daily with 20 DMA and Resistance line. Price got resisted at this confluence and has started to correct.
• For one to go long price has to above both these levels.
• Weekly chart shows Important support at 133.2 and Stronger support at 20 Week Moving average. Price has not managed to close below this moving average in the recent times. 
• Daily close below 133.2 can be used to go short in SPY.
• Consolidation pattern in daily line chart too can give good direction. Look for a close outside the pattern to go long or short.