Friday, May 15, 2009

SPY falls thru support...

SPY has broken down from the high that Teresa Lo called the most anticipated high ever.

I took some self-flagellation about the chart I posted on May 6th, so I'll post it again with the update.  I had drawn in the green lines as a prediction, and altho we had a headfake above trend, the breakdown eventually happened.

Now where do we go?

The question posed is: what do we see first, 90 or 87?

My vote is 87 (75% chance.)

By Monday (50% chance.)

I'll make a call, god I hate to be wishy-washee!

No comments:

Post a Comment