SPY Dancing in The Streets of a Key DAILY Rejection Zone.
-23.6%= 197.05 and -38.2% = 197.57. These TARGET Levels should be tested, but retrace and close below, otherwise more technical evidence that uptrend is in tact. Based on 4 session move up, the measured pullback buy zones are way down at 194.41-194. Quite a large range for a daily draw. That's what happens when stocks gap overnight. The Weekly Rejection 1 is 196.20 and obviously violated and next Weekly Level now matches the Daily Level zone being 197.54ish.
Pretty strong CONFLUENCE here for a rest at beat. Market does feel strong though.
http://content.screencast.com/users/MrSoul70/folders/Jing/media/7f2ce3ee-e52b-429e-8b51-42e8bcedfd16/2014-10-28_1352.png
http://content.screencast.com/users/MrSoul70/folders/Jing/media/99c60bca-3a3a-4153-ac32-b87f36fc666f/2014-10-28_1353.png
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