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SPDR S&P 500 ETF Message Board

  • bbbnnnddd23 bbbnnnddd23 Dec 5, 2012 8:34 AM Flag

    This is highest price you will see until at least 2 PM today

    This is a standard gap and fail in a low volume, low volatility market. Expect the open in 141.50-141.70 range, followed by selling to yesterdays low 140.80-141.00. If volume increases at LOD you can safely bet on further downside to the 140.50 level. If things get real ugly (watch the VIX) keep an eye on that 200 Day MA around 139. Those looking for a long entry point, 139-140 offers lowest risk. Those looking to get short should consider initiating the position as soon as possible, no later then the opening 5 minutes.

 
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