Just like I posted earlier the 139-140 area is critical right now basis SPY. Tons of resistance and the EMA200 lurking overhead. Who will win the battle....da bulls or da bears? Either way I'll be ready :)
I ain't too concerned about it just yet. The futures sold off going into the close and, frankly, the volume was anemic to believe this rally has any sustaining power. We shall see on Monday.
The S&P futures is trading lower by 6 points in the afterhours. Although that ain't much, I believe there's more to come. Should we gap down tomorrow. however, you will get a rare chance to witness an island reversal in real time and that, my friend, will not be a sight to behold for many silly bulls.
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