Chart Talk {02.02.16}

Chart of the S&P 500 ETF, SPY.  I've outlined the major levels of support and resistance going back to last spring.  Blue lines show price levels that the market is going to have to fight through on its way back to the old highs.  Notice that around 195 on the ETF we bump into the next level that we need to pay attention to.  Red is a major level of support.  The area at the top girded by the longer blue line and the longer green line represents that major level of resistance that we've discussed often in the past.

Charts are from FINVIZ.com.

*Long ETFs related to the S&P 500 in client and personal accounts although positions can change at any time without notice.