February 8, 2012

SPY Week and Daily chart analysis

  • SPY Week on closing basis shows resistance level between 134 and 136.
  • week closing above 136.4 will keep the bullishness alive. Staying below 134 will keep bears interested. 
  • Daily chart shows negative divergence But price need to close below 10 day EMA for triggering a bigger correction.
  • SILVER at 200 SMA
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