Tuesday, November 23, 2010
The SPY and the 50 day moving average
The SPY has the 50-day moving average just below Tuesday's lows, and that is still being watched for support.
The overall pattern looks like a consolidation, and if we hold the support, the break could lead to another leg higher. If we don;t hold support, a deeper pullback will likely be taking hold.
We are in wait and see for now, as volume should be light Wednesday and for the half day Friday session.
tinymjs at gmail dot com
Share to Twitter
Share to Facebook
Share to Pinterest
Post a Comment
Post Comments (Atom)