SPY Finishes the Day With Gap Fill

Nice up day today on low volume. I think there is room for a little more upside in this market and then I will contemplate making some short plays.

Since we got the expected up swing today, lets take a look at how the levels I suggested played out. Below you can see the chart that I posted in this morning's post with levels to reference for today's trading. Below that, in the second chart, I have circled the levels that played out nicely.

SPY 10 Minute Chart heading into trading on Tuesday, February 16th

SPY 10 Minute Chart showing how the SPY traded in reference to the levels plotted on the previous chart


I will be looking for the SPY to reach the key $110.45 resistance level either tomorrow or at some point this week. This will be a point to look to go short. We have to look at $110.45 to be a potential short term top of the market. I will talk more about this in my next post.