February 7, 2011

SPY intraday update

CHART-II
  • At last a negative divergence gives a correction. SPY may target today morning's GAP area.
CHART-I
  • SPY 30 minutes chart with MACD indicator.
  • Price and MACD is showing negative divergence.
  • Divergence may not give big correction if price continue to remain above 132.
  • SPY WEEKEND UPDATE

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2 comments:

  1. mynacFebruary 8, 2011 at 12:21 AM

    Dear San,
    It looks that Dow likely to correct at close& may stop it's extended run from last 5 days.I am not bearish but should come up to 1200 for further strength.Your view please.

    ReplyDelete
  2. SanFebruary 8, 2011 at 1:31 AM

    @mynac
    Seeing the indicators I am also expecting a correction. Problem for the bears is the strength of leading stocks. If they start to comedown we will see good correction in S&P and Dow.

    ReplyDelete

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