paulyberndt
Long

SPY LONG WEEKLY

AMEX:SPY   SPDR S&P 500
219 1 2
SPY             has gotten back into its prior trading range
after all this technical damage. I look for a retest of
the alligator jaw blue line where I would look to
re short. It is very over sold and I look for a size-able
relief rally now
Comment: Price on the daily SPY has
carved out a new trading range
as the bulls continue to hold on.
A Christmas rally is still in the cards
Comment: Price now at the blue jaw line With EURO QE likely we retest the highs by Christmas
nice chart) I also think that its too early to sell - new lateral range from here... (so its long time!)

MACRO VIEW: SNP LIKELY TO FALL WITHIN WIDER LATERAL RANGE
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