SPY Nice orderly rally today. Gapped higher, held R1 and took off on an opening range breakout. Volume super light-a concern for the rally sustainability in the long run, but for now, looks like resistance at 125.50 and then 127. …
SPY Yes an Accumulation day in volume and an impressive bounce after the Bernanke speech. But, could not take out last Thursdays' high and closed slightly above the adaptive moving average and below 120.08, the barometer closing price the week …
SPY Filled that gap and put together yet another Distribution Day in volume. Started out the week talking about the 120.08 close pre downgrade. Now, ending the week looking to see if it can hold the 200 weekly moving average …
SPY Can't argue with a good rally at the end of the day, but still cannot get overly excited since volume went back to anemic after an accumulation day yesterday. Plus, as the chart points out, it filled the gap. …
SPY A couple of interesting aspects concerning today's rally. First is the accumulation day in volume, nice start. Second is the close over the 200 weekly moving average. Third is the close over the fast moving average. Next hurdle is …
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