SPDR S&P 500 (SPY)

[Footquarters]

re lines





Yep, lines are important, notice the moving averages yesterday, the place of concern was a 1 p.m. The good thing was the out of BB and support of the 50 min MA. Then the MAC Daddy going over 0 the rest of the afternoon. That move would have gotten most of the weak hands out at that point. This is left hand chart stuff, so it is easy to point out where the weak hand faltered, in the heat of decision making with real money is different, a continuation of that move down would have probably taken them down.