SPY – ST Bottom?

07/17/2008 12:00 am EST


Thomas Aspray

, Professional Trader & Analyst

The short term divergence in the NYSE McClellan oscillator was confirmed with Wed’s close. Other short term indicators also point to higher prices and short squeeze could make things interesting. SPY has upside targets at 128-129 then at 132, the 50% retracement level.

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