Monday, June 4, 2012

Monday Evening

SPY Daily Chart
The 200 day simple moving average is now resistance.  (Thank you panther.)  Stochastics gave a buy signal on May 21st but the "fast" crossed down through the "slow" on Thursday and it's still diving. 

If we are going to see some upside to the market we need a catalyst and it looks like we are dependent on Europe to supply it.  Lord knows it ain't coming out of the enlightened leaders in Washington, D.C.