SPY Watch

The exchange traded fund that tracks the S&P 500, SPY, moved to bear phase in late trading on Person's Proprietary Signal (pps).

	trend	sto	sto zone	pps	psar	macd	macd trend	ma20	ma200
SPY $112.50

The preceding bull phase carried the price up 5.4% in 14 trading days.

On the Person's chart, SPY sits right on the weekly midline.

Person's Table

	pps	pps open	upper pivot	lower pivot
SPY $112.50		$112.49 sep23	$113.19 +0.6%	$111.88 -0.6%

The price remains more than 1% above the 20-day moving average and showed a net rise intraday. That is, although the price pulled back sharply from the day's highs, they bounced in the end (by two-tenths of a cent!).

Also, SPY has been in a sideways trend since May, running between roughly $115 and $101, with some breakouts and downs. So, there's no sign at this point that the stock is going anywhere, big time. It's simply marking time within an $14 range.

Of course, sidewinders can make good plays. This one is more than 10% wide, so there's money to be made for traders who can call the turns.

Reversal Levels

• $114.84, +2.1% (range high)
• $112.50 <== You are here.
• $110.60, -1.7% (20-day moving average)
• $101.13, -10.1% (range low)

Disclaimer

Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment. No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.

Abbreviations:

• pps - Person's Proprietary Signal.
• psar - Parabolic Stop and Reverse
• ma20 - 20-day moving average
• ma200 - 200-day moving average
• macd - Moving Average Convergence-Divergence
• sto - Fast Stochastic

About the glance: The colors indicate the state of each signal.

• trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways.
• sto: green for bull, red for bear.
• sto zone: green for overbought (80+), red for oversold (20-), yellow for neutral zone
• psar, pps, macd: green for bull mode, red for bear.
• macd trend: green for rising, yellow for sideways, red for falling.
neutral.
• ma20, ma200: green for above the average by more than 1%, red for below the average by more than 1%, yellow for within 1% either side of the average.