Welcome Back Volatility, Where Does SPY Bottom? 200DMA, May Crash Low OR June 2009 High/Support (Charts/Videos) (SPY, DIA, XLF, VXX, LDQ, TLT, IEF, UUP)

In the short term it looks like SPY (SPDR S&P 500 ETF) broke the uptrend from March 2009 AND near term $115 support. So technically support is yet to be seen. That is the question of the day. Where will SPY (S&P 500 ETF) find confirmed support?  Today (Friday, May 14) $SPY closed down 1.80% to $113.90 on worries over Euro sovereign debt. Check out the flight to investment grade bonds (LQD), Treasuries (IEF, TLT), US Dollar Index ETF (UUP) and Volatility Index (VXX). Gold (GLD) closed down slightly.

A) Today's low, 113
B) 200 Day Moving Average, $110
C) May crash low, $105
D) or June 2009 high/support, $96

 SPY (SPDR S&P 500 Trust ETF) - FreeStockCharts.com

VIX (CBOE Market Volatility Index) - FreeStockCharts.com

Here are updates from OptionMonsterTV in the VIX futures options pit and on XLF options via Group 1 Traders.  Find their videos at youtube.com/OptionmonsterTV and go to site OptionMonster.com.

Related Posts


HTML Comment Box is loading comments...