December 12, 2011

SPY Trend Update

  • Price is testing 200 Hour SMA.
  • Hour chart is showing support near 123.22.
  • If 200 SMA or 123.22 level holds an up move is possible.
  • 20 and 50 hour SMA is showing a bearish crossover But for bears price need to fall below 123.22 level to extend gains.

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