Technical Outlook Improving

02/09/2009 11:42 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

chart

Friday's strong close after the selling mid-week has improved the technical outlook. The weekly momentum has turned up, and a move above the prior highs will signal a stronger rally. Volume in SPY Friday was the heaviest since the November lows, which is positive with resistance now at 85 and 100.

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