SPY Analysis June 16, 2009
Posted by wallstreetbuddha in Analysis, Markets.Tags: SPY
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Hello Kids,
This is the latest analysis on SPY. Looks like I was right. The 200 day EMA is acting like a resistance point for the market. The market is stalling out as buyers are at the sidelines waiting to see if the recent rally will fall apart. The popular opinion seems to be that the market has rallied too far. Everyone and their mom is talking about a recession. And the rookies at the gym are telling me it’s the end of capitalism as we know it. Psychologically I think that the recession is over. There is only growth from this point on. Too many people are bears which suggests that the crash is over.
SPY 6mo/daily bars
SPY (zoom in)
SPY No Bear is Sight June 7, 2009
Posted by wallstreetbuddha in Uncategorized.Tags: Bull Trend, Market Analysis, SPY
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Well here is the analysis on SPY. We’ve gone through a major bull rally in the last few weeks. The shorts were bleeding heavy as no pull back materialized. As far as I know this is a bull rally that is still in tact. Monday morning will be a revelation as too if this will continue or not. I would keep a close eye on the 50Ema level shown on the chart. if we break through and close above that level. I speculate that the bull rally will continue. We shall see.
SPY Weekly
