July 17, 2012

SPY Chart analysis

  • SPY Near the apex of a contracting pattern. breakout or breakdown may result in good moves.
  • Right now price is testing 200 period SMA of 4 Hour time frame. for the up move to sustain price has to stay above this level and the falling resistance line.
  • For a bigger up move the range 132.60  - 137.50 has to be resolved. 



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