Market Outlook SPY for Sep 14th '07

60mins:
Dominant time frame.
Upward bias is still there: SPY like all major indices, is trying to reach its key level before the Fed announcement.
Not sure whether it can make it to ~150 by Monday though.

Daily:
Upward bias is somewhat weaker here.

Weekly:
Nothing new... the trading range can almost equally be broken either way.

Note that all 3 Swings are down though, hence this may mean that the market is trying to reach a key level to then retrace significantly, in which case the target prices would be 143 then (137.50 - 139).