Tuesday, January 26, 2016

SPY 190 is acting as short-term resistance zone

After touching the 181 level the SPY seems to have a hard time moving above the 190 level, which reminds me of the 200 level back in Aug 15. In Aug after touching the 181 level SPY was rejected at the 200 level at least 3 times before falling to the 187 level and bouncing to the 210 level. Currently I feel that if we do not overcome the 190 level we could fall even below the 181 level (just a guess).

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