SPY 2 Year, Weekly - 6.16.11 - The Weekly Trend has been down for 7 Weeks. The Risk is to the Downside. The Market is Very Oversold and Primed for a Bounce. The Outcome is Uncertain.
3 Month Chart shows Downward Trend with some Acceleration.
10 Day, Hourly Chart shows Downward Trend but at Lower Levels near Support. The Two most recent Bullish Moves fizzled on low volume. A Breakout to the Upside would call for 129.5 on Good Volume and have the Price hold above the Trend Line.
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