Consolidation Periods Demand Caution. Breakouts can be in Either Direction.
SPY 30 Day. Hourly - 5/7/11 - Longer Trend is to the Upside. Shorter Term the Direction is Sideways to Down. Price Action is Below the 20 & 30 Day Moving Averages. Trend Channel is UP. Price Action is Looking for Support to go Higher. Consolidation continues between 133 and 135.