Thursday, July 08, 2010 7:26:40 PM
SPY weekly candles:
We should test 108.30 Friday on spy. Expect strong intraday resistances in that area. 108.30 area is now where EMA8(grey) and EMA55(brown) are converging on the weekly time scale, two strong Fibonacci ema.
previous analysis posted here mentions that I expected oscillation around the spy weekly sma50(white) for several more weeks and it appears we are going to come up to it again next week to complete another oscillation. The flat line drawn @ 109.30 is still there and we can expect to see resistances all in that area intraday, though it has shifted slightly with the ema lines changing over time and price action.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=51648719
We should test 108.30 Friday on spy. Expect strong intraday resistances in that area. 108.30 area is now where EMA8(grey) and EMA55(brown) are converging on the weekly time scale, two strong Fibonacci ema.
previous analysis posted here mentions that I expected oscillation around the spy weekly sma50(white) for several more weeks and it appears we are going to come up to it again next week to complete another oscillation. The flat line drawn @ 109.30 is still there and we can expect to see resistances all in that area intraday, though it has shifted slightly with the ema lines changing over time and price action.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=51648719
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
