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S&P Intraday Chart Analysis

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February 09, 2011 – Comments (0) | RELATED TICKERS: SPY

Very bulish chart no doubt, but what you will want to pay close attention to today, is whether the slight weakness we are seeing, jeopardizes the existing trend-line, because if it breaks, it could create a snowball effect, where the market starts seeing heavier selling come creeping into the pictures - which is a strong possibility considering how light the volume has been of late to the upside and how steep the trend-line actually is, which as you all well know, makes me doubt the legitimacy of this recent move off of the 1/28 sell-off. So keep an eye on this chart for gauging the intra-day health of this market. Currently support rests at 1320. 

Here's the S&P Intraday-Chart.  

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