KrunchieKilleen

S&P: WATCH AND SEE WHAT HAPPENS NEXT

AMEX:SPY   SPDR S&P 500 ETF TRUST
3
Pulling out of its recent down-swing, we watch to see if the index will be constrained by our speculative Resistance Line (purple), or if it will crash through this line to resume the up-trend. The up-trend has already proceeded beyond reason, and I won't be taking a long position. Should it bounce off the purple line, however, I am ready to resume a short.

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