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Spamwich
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Specialty: Technical Analysis My early years were not so rich, I had a poor family, at age 12 I landed my first job as dishwasher for $6/hr, by 14 years old my mother suggested to cut grass around our town for extra money, so with what little money I had, I put into some fliers and a lawnmower.... More
  • $SPY Short Term Upside Potential Limited 0 comments
    Mar 19, 2014 9:21 AM

    Personally I think that this reversal has run into over extended territory for the week, I would like to see a close for the week in the 1865-1875 region to get that 1900+- target for months end.

    Currently the Indicators are giving no sell signals on the 5 H, and there is a bullish cross pending on the 13 EMA with the 50 EMA, generally signaling a medium term upwards trend that tends to be powerful. The descending channel appears to have broken out to the upside while the daily chart is showing early signs of buy signals but overall still working its way out of the sell zone, and will likely need a strong week next week to give buy signals that should take the S&P into the 1900's

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