weekly signal

The SPY weekly may be setting up a 4d-4c sell continuation setup.  Price is inside the "window" (between the 20- & 50-MA's) and we have the 3/10macd slow line crossing zero (which often precedes a 20- & 50-MA crossover) and the fast line pulling into it (essentially a bear flag).  Price is at a critical juncture.  A move higher (thereby turning the fast line positive) would force a squeeze.  While a tick down in the fast line could initiate a bear flag sell-off (this would also trigger a first cross sell signal).

  A clue to what may develop on this weekly macd setup will be how the daily behaves.  A negative tick down in the fast line would be a potential sell signal (though I would prefer the fast line to set up an X-Y-Z pattern that looks like this

So, should we sell lower we could possibly anticipate buyers to step in around the $130 mark and maybe we get boost higher from there, at which time that fast line on the macd would set up the zig-zag pattern I mentioned above.