$SPY closed back under 200 DMA Earlier today I ma
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$SPY closed back under 200 DMA
Earlier today I made a guess for a 142.20 as the high in the SPY, but it peaked just 4 cents below that mark. Then, I called for a pull back below the 200 on the 10 minute, and we in fact got a close even below the 50.
http://investorshangout.com/post/view?id=217641
If you trade the e mini futures or SPY intraday, you know that today was loaded with trades. I love this kind of action. The SPY has really like the 20 cent increments lately. If you look at the high from last week it was 142.80. If you look at the low from this week it was 140.40. Oh yeah and where was the low pivot right before the close? right around 141.40.
This market is a daytraders paradise right now. Lots of action. Enjoy it while you can.
[IMG]http://i.imgur.com/3Mcw9.png[/IMG]
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