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Tuesday, August 10, 2010

SPY Daily TEMA Chart.

-SPY still moving in short-term rising channel, but losing bullish momentum. 111.80 1st support level being tested today, but after FED announcement, appears to be holding. 110.0 is 2nd support level.
115.1 is next resistance level.
-Estimated Future Volatility Indicator and 30-day Implied Volatility in SPY ETF has come steadily down over past several weeks both to 20 level, so I do not see discrepancy.
-Mildly bullish, neutral volatility.

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