December 15, 2011

SPY Chart Analysis

  • SPY Hour chart shown with fibonacci levels.
  • Price is stuck between 38.2% and 50 % Fib levels. Bears has to break below 50% Fib level to extend correction. Above 38.2% We may see an intraday Up move.
  • Four hour chart shown with 200 Period SMA. Price is holding above this level. If price closes below this level we may see deep cut in SPY.

1 comment:

  1. San,
    Think we are going lower man. Buy pressure ends tomorrow.

    http://markethighsandlows.wordpress.com/

    ReplyDelete