Will the SPY Make It Past This 44 Week Resistance Level?

By: Marty Chenard | Mon, Feb 6, 2012
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That will be "THE question" within the next 10 trading days.

Specifically, here is the real question: Will the SPY be able to rise above its 2008 to 2012 resistance line seen on its weekly chart?

That chart is shown below, and it is now obvious how close we are. Since each bar represents 1 week on this chart, we are "within" 10 trading days of testing that multi-year resistance. In fact, the odds are very high that this week could be the week that this resistance level is tested.

SPY Index

 


 

Marty Chenard

Author: Marty Chenard

Marty Chenard
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Marty Chenard is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools and stock market models. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker.

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