SPY Forecast 6/16/2015

201506.16
Off
0


The S&P 500 index proxy (SPY) is showing a broad topping pattern, and we are forecasting that this will produce a lower high and at least a retest of the range lows near $204 per share. Once that level is tested, we will have new measurements with which to forecast whether a breakdown or the establishment of a new range is most likely.