Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 695.17

+0.2%

4:00 PM EST

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To: Johnny Canuck who wrote (47761)	4/18/2012 7:31:04 PM
From: Johnny Canuck	Read Replies (1) of 69688

Profitable Ideas Each Market Day LAST UPDATE:04/18/12 04:29 PM ET SPDR Trust (SPY) shows the outline of a diagonal or rising wedge on top of the weekly low, raising the odds for another decline, perhaps as low as 137.25 (around SP-500 1369). The Nasdaq-100 shows a simpler pattern, with 3 selling waves off the high, but it could turn lower at any time and try to print a higher low. Taken together, there's still plenty of overnight risk while the indices work through recent technical damage.

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