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Fuinhaz $SPY afternoon update for August 20, 2012
$SPY trying hard to hold 142. It almost feels like we are setting up for a nose dive, as we can’t break or even get close to 142.26, and big names are showing some lack of traction. I think that once we start to slide down it will be fast and with a lot of fury. Again I am not certain when it will happen. I can’t wait to check the $NYMO (McClellan Oscillator) later tonight. It should be a good tell where things will go tomorrow.
May you all have a good end of your day.
Ryan Mallory is the co-founder of SharePlanner Inc, a financial website devoted to Day-Trading, Swing-Trading (both long & short) and exchange-traded funds. Ryan makes a strong emphasis on risk mitigation strategies, trading transparency, and trader education – not to mention a great set of stock screens as well.
Be Sure to Check out Ryan’s Site at Shareplanner.com
2012-08-20 19:24:14
Source: http://www.shareplanner.com/daily-spy-read/10434–fuinhaz-spy-read.html
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