$SPY $QQQ ANALYSIS GOING FORWARD
As mentioned from my post dated Nov 28, 2012, when I went long $SPY in 140-.70 -141.20 region http://dchsn6.wordpress.com/2012/11/28/why-i-went-long-spy-today/ , my core position is up by almost 3% and markets are due to take a rest, big picture I am still bullish. Last 2 days of price action, where markets have made big attempts to move up but only to give back the gains right into the close, is a bit of concern. I have noted down the levels I will be watching forward.
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We have the 20EMA moving upwards and 50EMA going from bearish to to slightly bullish is good signs for the bulls. A minor pullback into the circle region on lighter volume will be considered constructive, watching the intraday price action would be important as you want any dip in that region to be bought by the bulls.
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