Replies to post #26963 on SPDR S&P 500 (SPY)

[be]

Eu, I love to trade with DIVERGENCE . thanks for pointing it out .

[Footquarters]

re charts


that one, looks like the SPX... they just ran them down to the 18 ema on 60 min charts on light volume and support, MACD is ready to bite the dust, but oversold. Looks like a bear trap to me here. They did the same thing on ICF and ILF.

1550 is line in sand after that we would fill the gap. Watch for a break of the 18 ema on the 60 ,but also watch for a possibly ramp to the positive side which is favored given the MACD location.