Monday, December 14, 2009

12.14.09 - Stealth Trend Day?

Internals are looking very good and are continuing to improve. The trick will be for the SPY to break resistance at the pre-open/ R1 level of $111.90. On the daily time frame this move has the MACD turning back above its signal line, while on the other hand we are pushing well into short-term overbought territory.

1 comment:

Trading Stock Market said...

It could happen, yet we already saw S&P 500 and SPY bouncing from this level on November 16-18, 23-25 and December 2-7.