Unheard of, right? ;-) Price and internals have been on a defined downward trending path during the morning session. However, I will note the tremendous relative volume spike just under SPY S2. This roughly corresponds with the top of the Summer trading range and the twenty-day moving average. I’ll be surprised if say $113.20 doesn’t therefore act as strong initial support. Otherwise, next daily support is at the 200-day just over $112.

Related posts:

  1. 09.22.10 – Testing the Five Day Moving Average
  2. Monday VIXology
  3. Monday Outlook
  4. Interview by Charles Kirk Today – Noon EST
  5. 04.19.10 – Support Above the 20-Day Moving Average