12.28.2011

Market was in consolidation yesterday. Looks to me that SPY has been forming a symmetrical triangle and trading range today may be limited by boxes (125.70 - 126.08) - (126.74 - 127.10)

10:40 Update
EURUSD deeply dropped and is just seating on the support 1.2950. The SPY sank below my support box. It's not good for bulls and I shift to wait and see mode for today.


SPY daily showed a consolidation with bullish bias.


SPY 30min: Seems that a symmetrical triangle has been forming and the trading range today may be limited by boxes (125.70 - 126.08) - (126.74 - 127.10).




Trade setting for 12/28/2011
Maintain buying on weakness and expect the high-target of the last week of 2011 at about 128-130.

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