SPY regains but still in bearish zone

10 Eyl

SPY bounces back after Friday sell off, still inside downward trend

• comparing against 1h and 2h timeframe we see that ema remains below sma for both
  
• This also holds true for RSI between 1 and 2h. RSI remains remains below sma
  
• stock remains inside the downward trend after bounce back
  

SPY still shows signs of bearishness and more selling to come. Not looking like we are out of the woods yet.