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Major Resistance at the Gap (ZT)
by Marty Chenard
Update on the SPY's one year gap ...
It was just a little over 1 year ago, October 3rd. of 2008, when the SPY gapped down sharply. That gapped remained open until October 15th when it was finally closed.
That gap was also a major resistance level to reckon with. So, what has happened since October 15th?
The SPY has NOT been able to move past the 109.68 level.
As time moves on, the odds for moving past that level have been diminishing.
Why? Because our C-RSI (market strength) has not only been negatively divergent, it has also been dropping lower. (Last Monday, we commented that "Negative divergences are warning signs" and that has NOT changed.)
去年10月3日,MM在1100处利用gap down套牢了大批散户和401k帐户,把他们留在了山顶。将SPX推过1100代表着很多人出水解套,把他们从山顶解救出来。MM们会成为解放军吗? |
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