SMP99
Short

SPY Tue 9-30 A Break in the downtrend....maybe.

AMEX:SPY   SPDR S&P 500
spy
9-30: Pre-market SPY             shows a gap up open above the trend line . Something I've been watching for lately. But a failed breakout is also a scenario I've noted and this might just be the set-up. For the break out to hold we need to see a successful retest and hold of that upper channel. If successful 198.36 then 199.21 comes into play.

Otherwise, i'm watching yesterday's ascending trend line . A break of that line might be the cue that we are due to go back into the channel. A fail at this level could also send us all the way back down to the bottom part of channel through tomorrow.

If we get a breakdown levels i'm watching:
196.75, 196.10, 194.95
This might keep it interesting tommorrow.
+2 Reply
Swinging every which way today
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SMP99 QuantitativeExhaustion
Yeah what a mess
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Might get my target today
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You are so very accurate with your SPY target. Right now it is at the blue suport line. If you get achance, could you please post another updated one both for 5 min and 15 min.
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SMP99 greenplay
Next level i'm watching is 194.40ish
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SMP99 greenplay
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SMP99 greenplay
Unfortunately I haven't had time to review next targets below 194.40
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Thank you so very much for posting very informative trading information for not so good technically sound person like myself. Your effort is much appreciated and I look forward to your analysis.
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SMP99 hakunamatata
Thanks for the comment and your welcome. Unfortunately the next move won't be quite as easy to predict as the move down to 194.. We bounced off the lower part the channel. I expect some swings in both directions tomorrow.
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