ETF Main Trends

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Notice that all 70 week MA’s have rolled over.

Chart

Here is the SPX Weekly and the SPY Monthly.  You have to be a member of stockcharts.com to be able to see SPY Monthly.  This weekly chart is indicating lower prices are coming. Notice too how fast we got to the 1290 area once support broke. The Weekly trumps the daily chart and this is a good example. We had supports along the way on the daily but look how fast they were broken. That is because there was no significant support between the upper line and the 1290 area on the weekly so it ran right through those levels. Same thing is in place now for the next levels.  Also notice the rate of change on the SPY Monthly chart.

SPX Weekly    SPY Monthly

Comstock Partners

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Per the Put Call Ratio

UUP Chart