Thursday, May 5, 2011

Failed Breakout

 Here's where volume picked up big in the SPY on a 1 min chart, it doesn't correlate well with any intraday support like we've seen a couple of times over the last week, but....

When looking at a daily chart, it's exactly where the breakout on 4/26 occurred. It seems I'm not the only one looking at the probability of a failed breakout.

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