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abigreen

SPY can go either way

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
abigreen Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Chart Patterns
6
5
chartpattern
Im bearish, but looking at the chart its clear SPY has formed a Pennant, which in this setup is more bullish.
Look where it goes in the morning session, braking upwards or downwards will dictate the direction.
Key level to watch for bears is 377 and for longs 380
Comment:
Comment:
373.90 is first target (Gap up)
If that doesn hold then Next is 365

Happy bearing friends ;)
Comment:
bulls bought the dip and its above 377 , which is not good.
Where are the bears ?
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