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SPY Getting ready for reversal... @ $410

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
stockinghood Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Parallel Channel SPDR S&P 500 ETF (SPY) spyshort spy500 snp500 S&P 500 (SPX500) SPX (S&P 500 Index) spx500short
6
11
parallelchannel spy spyshort spy500 snp500 spx500 spx spx500short
We reached the 406 price target with a new target now 410.
Expect a reversal at that point and take some profits...
Shorts would probably pay as the VIX closes the gap.
Comment:
Plus RSI bearish divergence....
Comment:
Target reached.
This somewhat parabolic moved deserves a cool-off before the next leg up.

Notice that the SPY is at the channel's edge and the QQQ is at a double top. Both reached there the same day.
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