Tuesday, June 9, 2009

SPY Pivots and target for the day

SPY does not want to commit. Tech and specifically semis are strong today. SPY is currently at daily VWAP and is chopping .

Target is tough to figure for the day, but look for sell off toward Pivot. If there is any volume, this will go toward S1 of 93.10. If volume is light, then it may only get half way to S1.

This is almost untradable at the current point.

Eric says we need the dollar to strenghen to weaken the inflation trade. Interesting meme to follow.

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