Friday, March 13, 2009

3/13 - intraday action

SPY - huge resistance level we hit today


SPY - pullback to support


RKH - pullback to support


Analysis: everything looks beautiful right now...pulling back at strong resistance from about 11 trading days ago...and good support below from prior high...definitely its profit taking in the banks and that will be reflected in RKH chart...watch to rebuy longs with tight stop at EOD...and in the very very short term, look for a small lunchtime bounce and most likely the drop to 73 level starting 10:30-11:15...

No comments: