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SMP99

SPY Fri 9-26

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
SMP99  
AMEX:SPY   SPDR S&P 500 ETF TRUST
SPDR S&P 500 ETF (SPY) S&P 500 (SPX500)
2
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spy spx500
9-26: With oversold conditions heading into the day, SPY could see some chop for the day between 196.40-197.29. A break of yesterdays lows would get us 195.76, above we have 197.50. Rising SPY trend-line appears to come into play in the 194.50-195 area. Hitting this area might happen next week and could be a great short term buying opportunity. I'll be watching for an RSI divergence similar to the one observed on the 8-7-14 low

Support: 196.35, 195.75, 194.65
Resistance: 197.50
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