Tuesday, September 14, 2010

Stock Market Snapshot as of Sep 14, 2010

SPY is sitting just below resistance after a big move the last 2 weeks.
A move above resistance may send the shorts for cover.

In the meantime, TLT has bounced off resistance and seems to be heading higher, which is not a good sign for stocks.

Trade idea for tomorrow:
If SPY moves above today's high and TLT shows some weakness, go long SPY with a stop below today's low.
Inversely if SPY trades below today's low while TLT is moving higher, short SPY with a stop above today's high .

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