Welcome back traders! Here's your weekly outlook for the SPY! Thursday and Friday last week were pretty anti climactic for the SPY, we just saw a whole lot of in and out near our blue box but here is what I'll be looking for this week. First of all, I'd expect for it to crawl up right up against that orange trend line I've got drawn up there, which it's done so...
Fb just broke out of the resistance that had been holding it back since October 30th. Bullish Volume is greater than the Bearish volume, which is a good sign. if it manages to hold this new support level around $180, it is a good opportunity to go Long as long as it stays within the Upward trend channel(orange trend lines)