Posted by: rp on the 23rd of Dec 2011 at 12:26 pm
i didn’t have the targets on the chart from yesterday but here they are. basically, we are at the 1st resistance (T1) now, so with the stock up 11% today, it wouldn’t be a bad idea to take some or all off. also note that the SPY has now run into the downtrend line that starts off the top of the 7/22 and 7/25 candlesticks (daily chart) and the top of the 60 min triangle. another good reason to considering booking some long-side profits here IMO. QQQ still in the middle of it’s 60 min triangle however.
