October 16, 2011

SPY Indicator Status

  • SPY Weekly indicators are looking good for bulls to extend this gains.
  • Price is about to enter resistance levels between 123 - 126 if it goes up some more.
  • If price stays above 126 levels then weekly indicators will completely turn in favor of bulls.
  • For bears the weekly middle Bollinger Band (20 Week SMA) and the daily Ichimoku cloud should help. If these levels are taken out then bulls will be stronger.
  • S&P 500 WEEKEND UPDATE

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