"I Dun Bin a Tadpole Too Long. Let's Get Goin'."
SPY 2 Year, Weekly - 6.29.11 - The Two Year Weekly gives us a Long Term View of the Trend. In this case it is Up. The Last seven week, however, have been down. This week the market has shown bottoming action and there appears to be a reversal of sentiment to the upside.
SPY 6 Month, Daily - 6.29.11 - The Trend for the last two months has been Down. A Bounce or Rally off of Support offers a Challenge to Resistance at the 50 Day MA (Green Line). A Break above the 50 could carry the market higher.
SPY 20 Day, Hourly - 6.29.11 - Breakout over Resistance should clear the way for a higher market. The Green Spot is a short term Target. The 20 Day MA has crossed the 50 Day MA which creates a Bull Potato. The Idea is to Stay on Top of the Yellow Line and Ride the Horse a Little Higher.
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