February 23, 2011

SPY Hour chart analysis

  • SPY hour chart is breaking all crucial levels in favor of bears.
  • Price has broken both 50 hour and 200 hour moving average.
  • Bears will be in total control if price remains below 200 hour moving average.
  • Fib levels shows price near 61.8% level Break below this level will fill the gap near 128 levels.

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