October 18, 2012

SPY Chart analysis


  • SPY 4 Hour chart shows a possible resistance line. Price is also unable to trade above 78.6% Fib level as shown in hourly charts. Bulls must trade above these two levels on closing basis for a bigger up move to happen
  • For bears Weakness below Golden ratio(61.8%) shown in second chart and 200 Hour SMA shown in the last chart.

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