Wednesday, February 24, 2016

20 Day Average Offers Support

SPY gapped down today and momentarily broke below the 20 day moving average.  Not for long.  Strong support kicked in.

SPY fell as low as 189. 32 before rebounding up to 193.53.  It closed at 193.20, up 0.88.

Three day test of the high tomorrow.  A break above the 195 level could see a surge running to 210.  Failure at 195, back down to the lows.

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