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SPY - Moment of Truth

As we begin the week of trading we find that the (SPY) has a potential shorting opportunity approaching via the False Bar Stochastic Trade.  As long as the market can stay below the 61.8% retracement (142.68) we have a good chance of seeing a new low below 125.00.

I will be ready to short this market if we fall below the Regression Trend Channel with an ultimate target around 122.00

Ron Wheeler

Spy_d

Posted by ronwheeler on February 04, 2008 at 05:23 AM |

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