Long Term Resistance Coming Into Play?

Just as an update to the previous post about the potential long term resistance that we may be heading into now.

The previous post:  http://www.nakedhedgefund.com/finance/does-rally-hav…long-term-look/

Current Chart:

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9 Responses to “Long Term Resistance Coming Into Play?”

  1. Taking profits on any rallies and rotating short. Will let you know what the pricing is once fully rotated.

    Will have to see if bounce continues tomorrow into the weekend.

  2. We have fully rotated to short. Sold SPY $120.50 bought SH $47.90

  3. Looking back at this post this resistance definitely came into play and you nailed it exactly where the rollover happened! congrats.. hope you cashed in more than me.

    • Yes it was pretty dead on. Cashed in pretty well, but there is always more that could have been done…. wish I would have gotten really aggressive with some additional options… but thats always the case when you have 20/20 hindsight.

  4. So how did you create that chart with the resistance line that came into play?

  5. chart the SPY with a moving average set to 50 and sample at a monthly rate. The chart above is a 10 year chart, but you don’t have to go out that long to see the resistance line that came into play.

    Let me know if that explained it okay

  6. wow market is getting crushed today!!

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