Replies to post #113832 on SPDR S&P 500 (SPY)

[maybe_this_time]

Thanks, good charts. The longer term view chart shows us at the top end of the current channel, but the short term view chart shows a strong upward movement. I'd say we're at a key area now. Has something fundamentally changed to move us up higher? Don't know...

Unless the SPY shows sings of breaking down today I'll have to once a again apply some risk management to close my intial downers. I am expecting a bounce back to SPY 125 at some point sensing that this may not just go striaght down. Just was expecting another move down due to continued weakness in the economy, which we may have gotten with the dive to 107.50. We are getting some mild positive signs of late.

If I do close out today, I wouldn't expect a stright move up and there may be one leg down on the way up (minor cycle). The ARTs 15 minute signals should give us the ability to trade that.

JMHO.