Monthly Archives: September 2013

16 Sep

SPY SDPR S&P 500 ETF – Bullish

Last week’s settlement above 167.30 indicates upward continuation over the next several weeks into the 175.00 – 176.55 region. In fact, a daily settlement early this week above 170.96 allows 175.00-176.55 this week, a range of mid-term resistance able to contain buying through the balance of 2013. Keep in mind last February’s ultra-long term buy signal remains firmly intact, and so a weekly settlement above 176.55 (rising weekly) by some point in October should not come as a great surprise, and if so bullish acceleration through the balance of the year would be expected, 203.80 then considered a viable 3-5 month target. Downside the market reverses below 163.65, a scenario we’re not expecting over the next several weeks – though September is known for its surprises. If so, a weekly settlement below 163.65 indicates 154.77 – 157.99 within several weeks, midterm support likely to absorb selling through the balance of the year. Get the highly specific breakdown in this week’s SPY Report by emailing us at We’ll send it to you at no cost or obligation.