harsha.imperial
Long

Time to GO Long SPY ???

AMEX:SPY   SPDR S&P 500 ETF
23 0 1
Time to Go Long SPX             ????
1) SPY             ETF broke out of 203.7 The Formidable support turned resistance .
2) SPY             also broke out of a Downward Sloping Trendline & is above 200 MA.
3) OBV also confirms SPY             Breakout ie Breaks out of It's Trendline & Horizontal Resistance. Therefore Volume supports the Rally ! But still below OBV 200 MA.
4) True Strength Index Crossover above Zero , That tells us that Momentum confirms rally & Breakout.
I think It's time to long on Declines in an Hourly chart !
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