SPY Oversold and continue to Fall

• SPY Hits the lower Bollinger band in weekly chart.
• Stochastic and RSI are showing extreme oversold readings.
• RSI has gone below 30% after August 2010.
• But the free fall may end only if we see a consolidation reversal pattern. a V shaped recovery is also possible.
• So Bulls can expect some relief from 125.28 level. This is the recent prominent low and the 200 DMA is hanging around here. So bulls can expect a reversal to star from this level.
• DOW JONES BREAKS 12000