SPY keeps on moving sideways inside the channel of the trend lines, but today the pressure was upwards. SPY has been moving in this narrow channel for 5 days now, but you should take note that it is on the upper limit of the daily Bollinger bands and not near the middle of the band which suggests to me a bullish pressure. If we take into account the constriction of the bands, I believe we are going to see a strong movement soon probably bullish.
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Battle Plan for the 1/22/2014
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