April 27, 2011

SPY Analysis after closing bell

  • SPY Daily time frame has closed above its resistance level in daily chart.
  • Hour chart has gone above 50 Hour moving average.
  • There is a GAP between 131 and 132. If todays breakout is real this GAP will remain as a run away GAP.
  • Hour will turn negative only if price starts to trade below 50 Hour moving average and the GAP.

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