SPDR S&P 500 (SPY)

[youaretheone]

nobody knows where she will go next week. some things are pointing up, and other indicators are pointing down. what we do know is that there is a lot of volatility in the market...so what we should all focus on is pinpointing resistance zones and acknowledging them as pivot areas. close above, or below will lead to more up or down. if you play the channels, you typically have to wait for a backtest of the broken channel to enter the position, as they often are backtested.

as for me, 1120-1124 is a pivot for more up, and 1075-1080 is a pivot to the downside. once those level are breached either way, then we can safely say where the continuation will be.

Gleno, keep calling those levels, as you have been extremely accurate with your targets!

See you all on Monday.