SPY $282.00 Number To Beat

$282.00 remains the number for the bulls to beat. The slow grind and wall of worry are in full swing while traders look for a clue for more bullishness or bearishness. The trend is still bullish with price above the T-Line and the T-Line above our Red/Green Trendicator line. FOMC and China this week are both market movers and could push the SPY one way or another. The SPY closed Friday in Tier 1 and with price in the trending T-Bands we will stay predominantly bullish with a finger on the bearish button. Price closing below the Red T-Band would suggest the March 8, low would likely tested.

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