Monday, May 18, 2009

Long term look at the SPY.

There is some res. at the horizontal line from the Nov. 7 high of 94.74 which may co incide with our outside trend line. We would have to trade sideways for a little while longer and probably NOT make a higher high. This would be very bullish moving into the trendline. Not breaking the 92.27 high from May 6 would be very bearish.

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