CaperAsh
Long

SPDR 30 min S/R using Vol analysis

AMEX:SPY   SPDR S&P 500
112 1 0
Big gap in price chart away from white line highlighted 183.51 previous POC             (price of control, several terms are used) where most volume past week or so.

Now: the market could go a lot further down (take a peak at Weekly chart), but usually it will do so in ladder fashion. In any case point of this 'idea' is that: because of gap down to relatively low volume area (as you can see on left-side VPSV histogram) chances are that even if market goes down to 181.64 previous high volume area from 13th (which is relatively not all that much volume-wise) it is quite likely that at least one attempt will be made before further decline to the dark rectangle painted in between white POC             lines 183.51 and 184.05, which also JUST HAPPENS to be right where the current gap is.

Trade: Buy now at these Day Lows and keep buying every X points down with target area around 184 or use Heikin-Ashis or good oscillator like Awesome on this chart to exit once the upmove which makes it up there is over.
within one minute of official close, mkt = which had gone lower after opening post above and then rallied to VWAP and POC on 5 min chart (see other comment), spiked up to 184.05 level mentioned above.
These volume indicators are VERY helpful.
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