Replies to post #48970 on SPDR S&P 500 (SPY)

[Footquarters]

Hi Learnin









lots of support items across the board, basically you like to see the out of BB for tops or bottoms. Basically we hit the top of a channel, we are in the weakest time for holding stocks through the 8th of the month, MACD is positive, moving averages have had nice crosses, so as long as support holds, which is favored, then buying dips will usually work like this morning. They tested the 1396 area this morning, key area for bulls. It still has a negative flavor this morning with the 60 min chart watch right now, determining what side to be on. If we suffer more weakness, the Mo may switch to the dark side. QQQQ is still the strongest link, so I would be shorting the SPX instead of tech, even though AAPL has been pushed pretty hard on average volume...