merkd1904

Bear flag

Penjualan
AMEX:SPY   SPDR S&P 500 ETF TRUST
Nice little bear flag or pennant printing on the hourly up to the daily. Volume is DED dead, people are fading gap ups in the morning, and the news flow is slowly starting to roll over, or algos are running out of cash. But, crazier shit has happened. Technically i would expect this to break down in the southern direction to the major multi year "megaphone" top trend line around $306, but we'll see. If we bust that, expect a test of the $302-303 area, but i see that as doubtful unless we have a huge negative catalyst.

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