December 14, 2010

SPY Hour chart with Ichimoku cloud

  • SPY hour chart with ichimoku cloud
  • The trend line in hour chart is giving support for the index.
  • Big correction may not happen unless the trend line is violated. Below the trend line Ichimoku cloud will also act as good support.
  • GAP around 119 level turned out to be a runaway GAP. 
  • For now price moving above 125.20 will help continue this uptrend.

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