Thursday, July 8, 2010

07.08.10 - Digesting the Move

The market is trading in mixed fashion depending on the index, but internals are generally healthy and it's good to see yesterday's gains being evenly digested.  Looking ahead, progressive resistance on the SPY should start near the twenty-day moving average of $107.75, up through 50/200-day moving average convergence zone in the $110 to $111 area.

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