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Stock pick for 11/07/2011

Stock pick for 11/07/2011

 


Dear traders,

In news market is really hard to predict anything and right now market depends on Greece news and it can be different any hour so I like to remind on that again because risk will remain higher until worries about Europe will calm down. From technical view I like to show you SPY daily chart and possibility what I will follow. That is daily head and shoulder pattern possibility. We can see on the left side left shoulder and then bounce and head. Now on right side after pull back last few days SPY is in upside move what could result with H&S pattern. Red line is 200sma and that si still resistance area and we could see few more choppy upside days, but also negative news can accelerate downside action. For now it is just something on what I will pay attention. If anyone will have any question please feel free to contact me.

Wish you all great trading day

Ivica.

 

 


 

 

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