July 18, 2011

SPY Intraday Update

  • If the trend continues price may hit 200 DMA again.
  • for intraday price has found support @ 61.8% Fib level.
  • So further down move only if the Golden ratio is taken out on closing basis.
  • Closing the day below 61.8% will favor bears for a correction towards 200 DMA again in the coming days.
  • SILVER RISING WEDGE

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