Thursday, February 11, 2016

We should see a bounce from this level

As contrary to my earlier belief that we are moving down to the 170 level, today SPY touched the Jan 20th lows of 181.4 and bounced back from there. Now it will be interesting to see if this up move lasts for a few days and overcome the resistances at 187, 190, 194 and 200. I think we might see a move to the 187 level and then back down further to new lows but it is just my guess.

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