SPDR S&P 500 (SPY)

[MetalFillBoy]

Hello Glenn!

Yea, it is hard to tell on the 60 min chart whether we broke up or not. I usually would like to see a long green bar with volume behind it to verify, but by your chart it looks like it just drifted up through it.

Looking at the 5 min chart, we did get some long green bars, but then alot of turbulence after that (1360- 1365). Again, no clear indication that the down trend line has been broken. Since I held my SSO, you know where I stand. However, not sure I am looking forward to tomorrow; always a wild ride when Fed make their announcement, even if everyone know what they are going to do.

Target of 1384...looks like it might be close to 1380; might be some resistance there, but that would be close enough.

Thanks for the thoughts! Good luck!

Edit: AJ pointed out something on his board that I need to keep in mind: The Aug lows on the SPX is around 1370. Might be a good place to take profits on longs. I suspect that this level will not break on the first attempt.