Wednesday, August 10, 2011

Testing Support

The SPY below looks to be testing support

 The 50 bar 15 sma has been resistance through the entire downtrend, it was broken yesterday and again today, it has also flattened out, there should be some support at the trading range and at the moving average.

Which could also be setting up an inverse H&S short term bottom, volume will be important moving forward on advances.

No comments: