If the answer is no and you are trading intraday, then you are going to get your butt kicked by the professionals. They ALL know. The answer for today on SPY is that support is $146.58 and we are failing to get above it for a third time today. What does that mean?
It is likely the lows are not in yet for the day. The same technique which we call the Erlanger Value Lines can be used on any stock, index or ETF.
If you enjoy the content at iBankCoin, please follow us on Twitter