Monday, January 31, 2011

SPY Pivot Still No Confirmation

 So no confirmation of a pivot yet on the SPY. My last blog on the SPY I said we had to have a close below 127.13 to confirm a pivot and a good chance of a correction. Didn't happen today and the vol was back down below the 250 million again . Low vol, market up but lets see what tomorrow brings. Today could be just a consolidation or pause day. Maybe we hold here a couple days and form a bear flag. I will not trade this until we have confirmation of a pivot.

Again this is just my interpretations of technical charting and consult a investment consultant before making any trades

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