June 24, 2011

SPY Support and resistance levels

  • SPY 5 Minutes chart with support and resistance levels.
  • Price will favor bulls if it stays above 127.49 and bulls will target 128.37 levels.
  • Falling below 126.62 will be negative and chances are 126.19 will be tested.

1 comment:

  1. We posted this Ellipse of Doom months back, and thought the "Egg" dead when that overthrow occurred, now it is back in play. For a number of reasons, thinking to go long ES next Sunday/Monday.

    Keep in mind, the banksters don't want anyone else to profit in this nearly zero sum game. That is why the big moves come at night and on weekends.

    As per prior theory, rally into July 4th weekend, and then Kansas Go Bye-Bye (KGB)