Another bright dawn of my in Vietnam
Looks like SPY is in the forming of a descending broadening wedge that favors the break upward.
My stock picks: CTRP HL KWK MCP
SPY daily: Looks very bullish with the 0.87% gap up. Cautious bulls may need to pay attention to the sell-on-rally-reading from the intra-day price action and a number of indicators which are going into the oversold territory.
SPY 5min: My S&R boxes are [128.18 - 128.63] & [129.65 - 130.16].
My trading setting for 1/11/2012
A pullback may be seen however it may still be a chance to buy if 128.18 is respected. However cautious bulls may not chase a rally.
Aggressive Bears: May try pilot shorts at ~130 if any.