March 10, 2009

SPY

As expected, trendline was broken intra-day by the high of 70 on 3/9, although still closed below. Expect to break again, at least intra-day, by any move above 3/9 close. New short-term support at 3/6 low of 67.09? 3/9 down day was on lowest volume since 2/26 and below 20 day volume EMA. No strong opinion on next short-term direction. 3/9 close 68.11.
3/10 bm

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