SPY support

Levels to watch-$113.10-$113.20 is a major support area for the SPY, it's no surprise it's hanging by it's fingertips from that level, nothing goes straight up or down in the market for this very reason. a break below that level, especially on a close could be quite damaging. After that $112.25 would be the next support zone. We have resistance near $113.70. Be aware that these are all obvious levels and therefore are subject to false moves. I think a trading system based on false moves may produce unusually high returns being the chances of seeing such must be well above 80%.