Wednesday, June 6, 2012

SPY Update

SPY 6-6-12

Today was a follow-through type day in stocks was very high breadth and major price gains.  Coming off a technical divergence it appears this rally has some legs behind it.

The best short term trade set-up I see is to wait for the hourly stochastics to pullback down to oversold to potentially initiate a long trade targeting unfilled gap downs overhead.

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