June 29, 2014

  • SPY Daily seeking support at 20 day SMA
  • Daily line chart shows price staying above a wedge pattern. Weakness if price falls below 193.54 levels on closing basis.
  • Negative divergence in weekly charts has given very little for bears. Weekly chart shows a negative divergence which may result in a small fall followed by another up move.


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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