play4trade

$SPY May be time to head higher to test SL!!

AMEX:SPY   SPDR S&P 500
95 0 2
$SPY... Momo to the downside is slowing down on lower time frame; however, it looks a lot worse on the 4hour and even daily. But don't forget big picture... BULLISH MOMO is BIG TIME in control. I do think we will test 199.50-200 then head down lower to finish testing 196 area... Looking for 197.70-80 as STRONG support for bounce and possibly head to 199.50-200 by end of week. Time will tell! Shorting this momentum is DANGEROUS!!!!
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