Sunday, July 19, 2009

SPY support-resistance levels week of July 20, 2009



The white lines in the chart denote support and resistance levels on the chart of the SPY. Around 94.6 would probably be very heavy resistance for the upcoming week. A slight pullback from current levels will probably support the thesis of continued upside moves. Even a pullback to 90.6 would likely support a continued uptrend as that is gap fill, and is the 50% retracement level from the lows of 87 on the SPY to the highs of 94.6.

No comments:

Post a Comment