August 12, 2012

SPY Weekend update


  • SPY Daily chart shows negative divergence with price and MACD Histogram.
  • If the channel is intact this steady up move will continue. For bears need a channel breakdown for a bigger correction to happen.
  • Weekly resistance levels for the coming week are 142.21 and then the resistance line of the pattern shown in last chart which is near 144 levels.
  • QQQ WEEKEND UPDATE


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