Price put in an early floor at SPY $120.80 and the VWAP has been mostly positive since; however, not enough momentum has been able to build for a break above the daily pivot of $121.40, which remains strong resistance, and internals are largely negative. All that said, I suppose action could be worse with the dollar on the rise. Volatility is flat at the mid-day.

Related posts:

  1. 08.12.10 – Coiling Under Pivot
  2. 09.16.10 – Strong SPY Resistance at Pivot
  3. Qs Pivot Bands Update
  4. 02.09.10 – Pivot Catapult to R1
  5. 01.11.10 – Price Struggling in New Week