Thursday, November 12, 2015

Support around 204 area

Can it find buyers around the 204 area, it has acted as support on 5 different times previously, if 204 does not act as support then the next strong support is 200 area. SPY sinked below all the major SMA's (8 SMA 209, 21 SMA 207, 200 SMA 206.5). Similar situation as the last week of Sept. could see another drop if the 204 support does not hold tomorrow's session could be crucial.

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