Will it hold? The markets sold into a great support level at $103.00. Earlier, the SPDR S&P 500 ETF (NYSE:SPY) hit the key $104.00 to $104.50 level which was a major resistance level. It worked perfectly, pulling the markets back. If $103.00 breaks to the downside, look for the SPY to hit gap fill at $102.20 to $102.00. This will be a big level of support.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
