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Wednesday, July 8, 2009

SPY - EOD

spy - end of day / daily
based on these technicals, there certainly should be at least a relief rally tomorrow. but personally, i just don't see how we'd get anything but programs trading spit for liquidity and es scalpers to play against this topping formation. no institutional imo.
anyway, the indicators: low smi, -dmi over 35, obv sportin about as long a segment as it gets on a daily. also a big time pos-d histo setting up and a reversal candle that closed back above the neckline

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