Daily: SPY is approaching the 200 SMA, a telling point usually for the market and a potential point of support
1-Hour & 2-Hour: Break-down below Oct 2 and Oct 8 lows early today, leading to further down action. Last hour sell off before the weekend reached almost oversold RSI conditions on these time frames. Lack of MACD / SPY price divergence still!
15 min chart: SPY closed on oversold RSI conditions displaying also MACD / price divergence!
Interpretation: We are approaching both potential levels of support in the weekly and daily as well as oversold conditions in the shorter time frames.
Next: CAUTION
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