Depending on one’s point of view, the daily SPY pivot is either under attack -or- providing strong support…. With internals weak, I prefer to err on the side of the former premise, holding onto light shorts for now, but willing to lose them fast should the market catch a bid in the second half.

Never Investment Advice

Related posts:

  1. 01.16.08 – Bear Attack
  2. 12.31.10 – Gap Fill to Pivot
  3. 02.09.10 – Pivot Catapult to R1
  4. VIX Pivot Bands
  5. 11.11.10 – Struggling under Pivot