-VIX is coming into resistance
-GS is bouncing off of its daily 50-SMA
-MS is at Gap Fill
-SPY has a bottoming tail
All of these reasons lead me to believe that the bottom of the day is in.
Tuesday, August 24, 2010
SPY Target: $106 reached
SPY dropped to as much as $105 today. I'm looking to go long off of this intraday pullback. (I will NOT be holding long positions overnight even though a bounce looks likely)
-VIX is coming into resistance
-GS is bouncing off of its daily 50-SMA
-MS is at Gap Fill
-SPY has a bottoming tail
All of these reasons lead me to believe that the bottom of the day is in.
-VIX is coming into resistance
-GS is bouncing off of its daily 50-SMA
-MS is at Gap Fill
-SPY has a bottoming tail
All of these reasons lead me to believe that the bottom of the day is in.
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