SPY Thoughts 10 March 2015

SPY T 10 Mar 2015 Close

It felt like a bit of panic selling setting in yesterday.

Relax…

We may indeed be headed lower… and substantially so… but before that happens, price needs to make it through the noted Support Zone as well as the Value Zone.

Could happen… but I wouldn’t even consider the short side (if I considered the short side) unless price can make it down through the bottom of both zones (around $198).  Even then, there’s an even bigger support area down around $182 that must be broken before “all hell can break loose.”

Good trading.

 

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