SPY Stalls for Second day
There is no change in the SPY analysis. Stocks stalled over the last two days with SPY forming two doji. These signal indecision and can sometimes foreshadow a short-term reversal. At this point, I consider this indecision as a rest within the short-term and medium-term uptrends. Medium-term support remains at 102-103. Short-term support remains at 107.5. A move below this level and a CCI move below -100 would start a short-term downtrend. This would also amount to a failure at resistance. The first downside target would be the support zone around 102-103.
