SPY in trading range of $85-100
Posted on November 17th, 2008 in Stock Market |
The major indexes pulled back last week buy had a nice rally on Thursday. Below is a chart of the SPY which shows big price spread on Thursday on big up volume. Even though Friday we closed down we ended up inside the trading range of Thursday which is positive. I expect the SPY yo climb up to $95 this week then maybe $100.
Below is the XLF (Financial ETF) which reacted the same way as the SPY - the financials are a large portion of the SPY. I think the XLF will also test the $15 price then $17.
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