THE PIVOTS

I have not discussed the Pivot Points on the SPY lately as I have been writing about the short term buy signals. The Pivot Point on SPY is 129.3 and Initial Resistance is 130 and Second Resistance is 130.4. Support is back at the 128.8 level and hopefully it will not be seen for awhile.

I note that the Japanese markets have tanked over the last few days so there may be a trade in EWJ. I plan on watching that one closely and may enter it today as it seems quite stretched to the downside.