SPY Clears First Resistance

03/03/2010 10:09 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

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The SPY was able to surpass the prior highs at 111.60 with next resistance at 113.20. The close was not that impressive, but the daily technical studies and the A/D analysis are both positive and do point higher. The OBV has moved through resistance and is close to the January highs. There is short-term support now in the 111 area. The mid-cap stocks, as represented by the S&P 400, have already moved above the January highs.

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