15th Feb 2012 – Pattern Study – Valentine’s Day effect, Love is in the air!

Ticker:

 

1. SPY

 

Topic:

 

1. Should have a good reason why such volume came in before market end to pull index back to positive territory.

2. Could it be because of Valentine's Day!?          ;-)

 

Lesson Learnt:

 

1. Overall, SPY still look quite healthy.

2. All indexes open with drops due to the downgrade of Italy, Spain and etc by Moody.
3. Just minutes before market close, big volume came in and pull the index back to positive territory.
4. Such move should indicate bullishness for next day market.

 

Intraday Chart

Historical Chart