Friday, January 29, 2016

Jan 29 - Future bullish targets

This move looks solid and now mapping out where this move might end.  It looks like a test of 195 in SPY is high probability after that very uncertain.

Lot of resistance above and a measured move from the bottom would take us to 196.  Tough resistance at 195 also.  If we clear both of these high 190's is possible but we would probably see consolidation before that move occurs.
 The orange area I will be watching for a reaction.  Daily will be overbought by end of next week if this move is very impulsive.
 VIX will be oversold by mid wk

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