angelbaetrades

$SPY on 1HR 12/21 Analysis

AMEX:SPY   SPDR S&P 500 ETF TRUST
$SPY on 1HR 12/21 Analysis

For SPY i am expecting a morning pump.
This pump could potentially run to the 50 day SMA on the hourly chart of $384.44 and retrace.
As for pullback, looking at the stochastic, it shows there needs to be a pullback. It currently way too high imo.

I expect the rest of the day for spy to be relatively red or a sideway if it consolidates there after.

SPY:
1st Resistance: $382.56
1st Support: $378.19

What are your thoughts?
Thanks,
Kelly :)

Kelly @angelbaetrades
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