After reviewing the SPY charts for a friend I have concluded that the longer time frames of the SPY are beginning to look more volatile with larger price swings producing wide and whippy price action on the monthly, weekly, and daily charts. Wide and whippy price action is usually the sign of the beginning of a stage 3 sideways action in where we will continue to see larger swings in price throughout 2016. I'm not ready to predict a stage 4 downtrend or hard selloff for 2016, but if we continue to confirm a stage 3 price action in 2016, you just might have to buckle your seats because 4 always comes after 3.....
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