2010 was upside volume node for SP – resistance for short squeeze rally, and 120 minute EMA!

December 16, 2014

12-16-2014 11-50-26 AM

Picture  tells 1000 words……short squeeze rallies are sharp and swift and leave a vacuum when they stop.  Look where resistance came in –  price still remains in a  downtrend channel as well. Play today was for the three pushes down on Dow 30 minute to lead to reaction/consolidation to fill out 120 minute charts.   all indexes found solid resistance at 120 minute EMA.