Watch This Key Zone In The SPDRs

  • March 15, 2005
  • Derrick Hobbs

S&P Critical
Symmetry Zone

 

Last week we talked about this
symmetry support zone for SPY. On Friday of last week, price honored the
symmetry zone and bounced slightly. However, today the market brought price
right back to the bottom of the zone. If we get a close below 120, I’m voting on
more weakness and looking to short any rallies that develop from here. The key
is a close below this symmetry zone.

 

 

Take care,

Derrik