Friday, March 11, 2011

SPY 129 Big Support Still in Tack

Well yesterday I posted and said I wouldn't be adding any new short because 129.72 was major support. Well we penetrated it today but closed above so it is still in tack. I think I will stay Neutral  on the SPY here because this was the 1st hit of the 50 average in quite awhile. I think I will wait to see if we get a double top 135 area or we get a break through the 129.72 with a second day to confirm it before I make any trade on it.

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