Tuesday, October 28, 2014

SPY Dancin in the Streets of Rejection Zones

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.



No comments:

Post a Comment