Monday, April 25, 2011

SPY Update

Check the last market/SPY update for my thoughts on the action in the SPY, here's the updated charts.
 Basically the 1, 5, 10 and 15 min charts all have negative divergences. The SPY has continued largely lateral since the last update. I'd be watching for a false move and an otherwise reversal. With some slight variations, the other averages look largely the same.



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