SPY chart for coming days (14 Nov 2008)

Interesting day, to revive hopes for the bulls. As usual, my stance is as neutral as ever.... lol

The chart below shows SPY with trading levels of interest in "Red".

In the coming days, SPY will attempt to get above the 50 MA of 102.09 for any hope of going higher. If it fails, expect a reversal and resumption in the downtrend.

An important retest of 112 will then follow to determine whether SPY will be heading down or up for the rest of the year.



Strategy: I am planning to daytrade agressively.