SPY 15 min 9… 2 to go. Remember, as discussed in Friday’s video overview of this multi-signal system used to help identify early short-term trend changes in the SPY, what makes this (pending) signal different from the last few, which included two whipsaw signals, is that we had intersecting uptrend lines this time around: both a short-term (orange) trendline as well as the intermediate-term (white) uptrend line.  Typically, the longer the duration of a trendline or technical pattern, the larger the expected magnitude of the correction will be.

As of now, we only have two of the four sell signals triggered; the trendline break and the cross below 80 on the stochastics.  We still need to see some additional downside or possibly some sideways consolidation in order to trigger the MACD zero line crossover (second of either the slow or fast line) as well as a bearish cross of the 14 ema below the 34 ema.  My preference is to see at least 3 of the 4 signals triggered in close proximity to confirm the sell signal.