"You Just Cannot Make a Fish Take the Bait. Sometimes It is Just Best to Wait."
SPY 10 Day, Hourly - 12.14.10 - Strong Resistance at 125.20 which represents a Lid on the Market. This is a level that has become a challenge to the Bulls. The Trend is still Bullish but there are signs of loss of Momentum. The Moving Averages continue to show Divergence, but they are Following Indicators and reflect what "has happened." The 20 Day Moving Average has been penetrated and puts the Price Action in the Devil's Den (DANGER). There are signs that the Buyers have run out of Bullets, but as in the past the Bulls cannot be counted out. They do have the Fed on their side. As with GM, the Market is "Too Big to Fail."
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