November 12, 2010

SPY Support levels

CHART-II
  • Support broken at the fourth attempt
  • This area may act as resistance now.
  • We may see an up move after filling the GAP
CHART-I
  • SPY is finding support at 120.67 area. 
  • Today price hits this area for the 3rd time in hour time frame. This has the making of a triple bottom reversal pattern. But if it gets tested again bears may be successful in breaking it

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