Simple Trading SPY – What The &*^$ Happened Today? 26 May 2015

Daily

SPY D As of 26 May 2015 Close

Weekly

SPY W As of 26 May 2015 Close

Current Trend (W): Up

Abv/Below Value Zone: Abv

Next Scheduled Report Date: N/A

52 Week High: $213.78

52 Week Low: $187.07

Current Relevant Resistance: $212.91

Current Relevant Support: $204.12

Recent Close: $210.70

Comment: Greece… Oil… The Dollar… who knows why the market made like a swan today.  There’s no way to know for sure why US equities behaved as they did today and I’ll tell you what else… there’s no way to know what will happen tomorrow either.

That said…

On the SPY daily chart above, I took the liberty of pointing out other recent price swoons on volume… we all know how they have worked out so far.

More practically, the weekly chart shows that the uptrend isn’t threatened unless price breaches the $204 area, so unless and until, longs should be held and/or long setups taken.

Hope it helps.

KIS,

The Trader

 

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