SPDR S&P 500 (SPY)

[blasher]

so, we got down to my posted Key level of 158 Friday
then moved back Up that same day.
This, along with Monday's Doji was our clue to the Up move coming yesterday and continued today.
So, the next thing we do is look at the price-action at that next level I had posted = 162.
SPY = 161.50 - 162.00 is the key Resistance range to watch.
Today's Rally higher on bad news GDP is a great time to look for failure if SPY gets near that range.
Tomorrow morning's Jobless Claims and Personal Income reports offer a great chance
for Big Money to run the Market Up to that area and then start Selling.
Watch for it.