September 30, 2011

SPY Analysis

  • Price not able to close above 20 Day Moving average.
  • Price falling below 114 will increase the risk of a breakdown for bulls.
  • 110.27 is the final support before the big fall. Price taking support and closing the day above 20 Day sma may give hope for bulls.
  • Indicators like MACD and Stochastic are in neutral territory because of the range. 
By at

2 comments:

  1. IlangoSeptember 30, 2011 at 7:53 PM

    Hi..SAN,

    Did you notice the "Fast fall potential"..?

    ReplyDelete
  2. SanSeptember 30, 2011 at 8:06 PM

    @Ilango Sir

    I noticed it and was expecting a big fall for the last 3 days. Price kept on closing below 20 SMA.

    Right now the hour is moving up from oversold levels which may give a small bounce.

    Hope for bulls only on closing above 20 Day SMA.

    Thanks for the friday evening surprise comment Sir.

    ReplyDelete

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