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Balagadoo

S&P 500 breaches 200D MA for gap down and back up

Long
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
Balagadoo  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis SPDR S&P 500 ETF (SPY) S&P 500 (SPX500) SPX (S&P 500 Index) 200dma
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trendanalysis spy spx500 spx 200dma
Although we have a long down trend, we hit the 200 day moving average. From here expect strong resistance, especially approaching the initial drop zone. Look for an initial gap down on Monday and a run up from there as it did in the initial drop.
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