SPY $207.95: Remains stuck in a 2-month range
SPY gapped down last Friday (April 17, 2015) to retrace near 61.8% of the 204.12/211.04 rise. Technical indicators remains neutral, reinforcing the range bound price action. The 205.21/204.12 range support zone should hold dips. Renewed strength back above the 209.23 gap resistance (April 17. 2015 high) would offer scope for a retest of the 211.04/211.27 range ceiling area.
Outlook:
Short term: Neutral
Long term: bullish
Outlook:
Short term: Neutral
Long term: bullish
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.