The last four trading days has been in a $200.55 resistance and $198.56 support range hardly a down trend of bearish. The long term up trend is still intact and price is still within striking distance of all time highs. The 21 day ema has acted as end of day support since that line was […]
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In strong market up trends the 21 day ema acts as support for pull backs in major market indexes. This is our line in the sand right now. I am holding a full size $SPY position with the loss of the 21 day ema as my end of day stop. If this 21 day
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The $SPY is currently in a short term range with $199 as support and $201.50 as resistance. These levels have held for the past two weeks. $SPY is in overbought territory having gone too far too fast and needs to build a price base at these levels to enable it to continue to trend
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