July 11, 2012

SPY Support levels

  • SPY Near 50 Day SMA.
  • One hour chart too is showing a similar setup with price near 50 Hour SMA and 38.2% Fib level.
  • Supporting trend line shown in 2nd chart too may act as support.
  • For extending the down move price must close below these levels. Taking support here may result in a bounce.

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