April 29, 2011

SPY - Target for the breakout.

  • SPY Hour chart with possible target for this breakout.
  • Length of the range is about 4.50 points in hour chart.
  • Breakout point is at 134 So adding 4.50 with 134 is giving a projected target of 138.50.
  • Price is respecting a steep trend line in hour chart. We may get a retrace before touching 138.50. If retrace maintains above 134 price will hit 138.50 during next week.

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