trading date: March 17, 2016 –
The FED day after …
SPY continuing to raise… someone saying it’s getting tired.
Support will lie at the 200 Day SMA at $201.97, followed the low of yesterday’s range at $201.55 and $201.05. Resistance will lie at high of yesterday’s range at $203.82-.87, that can be followed by a surge to $205.89.
Despite of some bearish comments we read, our outlook is still positive, at least for the short term. The target to 205 could be catch.
Let’s take care of the support levels. Losing them, the scenario could drastically change.