themarketzone
Short

About to hit the top of the trading range - FOMC ahead

AMEX:SPY   SPDR S&P 500
The market's reaction to Friday's jobs report created another Doji near the top of the trading range in $SPY.
The sentiment remains bullish as $SPY was able to erase most of the losses it opened with following the grim jobs report.
210-212$ is the immediate resistance zone but don't count out the option for a spike to take stop losses above previous record high

Tomer Jakov, The MarketZone

This analysis is part of the Weekly Markets Analysis newsletters
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Comment: $SPY was rejected by the top of the trading channel.
Still can re-test previous highs as FOMC in focus now
Setup still relevant.
http://goo.gl/28uI95
Trade closed: target reached
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