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abigreen

Bearish pennant, SPY will go down, but before one more bounce

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
abigreen Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Fundamental Analysis
18
11
trendanalysis chartpattern fundamental
We may see one more bounce to 426, possibly 430 (higher high on this downtrend)
This may happen overnight or tomorrow.
After that I expect continuation of the downtrend.
Also we are about to experience death cross on daily (21 of March is my guess), which will coincident with end of pennant.


I am short on SPY from 350 with 20% of my position.
The rest I trade and swing.
Comment:
Money shifted from energy to index, which may propel the bounce. My top is 330.
Currently playing bounce on china index using (YINN)
Comment:
Made a mistake and I am shorting SPY since 450 and not 350, 350 is probably where we are heading, lol
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