December 8, 2012

 
 
 
  • SPY Managed to close above 50 Day SMA.
  • But bulls has Golden ratio, Daily Ichimoku cloud and the falling resistance line which may act as stiff resistance levels.
  • Weakness on price falling below 140.13 levels. For bigger up moves price must sustain above the resistance levels mentioned above.

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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore