November 23, 2012

SPY Trend update

  • SPY Weekly chart shows a reversal from 50 Week SMA Pending today's close.
  • Daily chart also shows price back above 20 and 200 Day SMA. Close today at the current levels or higher above 20 SMA should add strength for the daily time frame.
  • Next crucial resistance levels or target for the up move could be the 50 Day SMA or the Golden Ratio.

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