Feb-10th-2010
Options and Stock Market Technical Chart Analysis for February 7, 2009 by Idan Koren
Today we look only at the SPY and look at both potential patterns of Elliot Wave and potential resistances and supports that are critical to either keeping the bearish pressure or turning bullish. We also look at friday’s action as it has a very nice bottoming candle. Some more upside into monday is possible, with a slight dip in the early morning. 1073 is incredibly strong resistance, and that’s a place to watch out for. We also look at the SPY descending channel, and say… Play it!