Saturday, March 12, 2011

No Breakdown Yet

     In the last trading session, the S&P was able to recover and close above the 1300 level, even on a day there was every reason to sell.  This indicates a breakdown at this support level is not going to be easy in this market.  We at this very moment in time are expecting the SPY to be trading in a range between 130 and 134 and until a breakout, we are playing the waiting game.


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