Tuesday, May 18, 2010 7:40:38 PM
Speaking of SPY..
Weekly chart. Fibonacci sequenced ema lines, and sma50.
If bears continue in morning we could obviously test the converging yellow and brown ema or the 109 area on spy.
113 ceiling for a bit.
Also ema233 on weekly should pose stronger resistance if the bulls take back over (like last week see how the candle body tops @ ema233).
Notice how the week of the 'crash' it ended sitting on ema34 (purple). We are just coming back down to that in after hours tonight, which should prove for interesting morning. all imo
Weekly chart. Fibonacci sequenced ema lines, and sma50.
If bears continue in morning we could obviously test the converging yellow and brown ema or the 109 area on spy.
113 ceiling for a bit.
Also ema233 on weekly should pose stronger resistance if the bulls take back over (like last week see how the candle body tops @ ema233).
Notice how the week of the 'crash' it ended sitting on ema34 (purple). We are just coming back down to that in after hours tonight, which should prove for interesting morning. all imo
in my cats opinion
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