SPY weekly closes chart to compliment the SPY 60min chart by Art Hill at the end of post #231
* a look-back is now timely - look to the left on this chart for the $131.90 horizontal support and the $134.11 breakout levels
bulls want to see pullbacks to the SPY $134.11 breakout level hold and establish this price level as long-term horizontal support
instead of resistance, which has now been briefly surpassed by this week's price action
(these horizontal price levels shown on this chart will need to be adjusted when SPY pays the next quarterly distribution)
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* a look-back is now timely - look to the left on this chart for the $131.90 horizontal support and the $134.11 breakout levels
bulls want to see pullbacks to the SPY $134.11 breakout level hold and establish this price level as long-term horizontal support
instead of resistance, which has now been briefly surpassed by this week's price action
(these horizontal price levels shown on this chart will need to be adjusted when SPY pays the next quarterly distribution)
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