S&P Looks for Direction Ahead of Bernanke (SPY)

For Monday’s chart analysis, Phil Erlanger said, “Friday SPY remained between pivot and resistance. The good news is the gains of Thursday held. Today we are testing support at $144.01. If we hold, then we would move to a long bias for today. If we fail, then get aggressive on the short side and use trigger indicators to lock in profits.”

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September 10, 2012