- Up move of SPY is accompanied by Low volume candles.
- The candle which made it above the 200 SMA is showing the Lowest volume.
- SPY is yet to close above the resistance line unlike the other charts.
- If volumes pick up next week we may see this continue till 128 levels were the Upper Bollinger band may act as resistance.
December 24, 2011
- For Dow Jones price is above 200 Day SMA and the slopping resistance line.
- One resistance level to cross is the horizontal resistance line at 12284 levels.
- Closing the day and week above this level will help bulls to extend profits.
- If price closes the day below the horizontal line it may trigger a short trade for next week.