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abigreen

SPY still strong

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
abigreen Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Harmonic Patterns Technical Indicators Trend Analysis
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harmonicpatterns indicator trendanalysis
SPY pulled back to fib .236 (415 area) from yesterdays rally, that is very impressive.
Should at least go down to fib .38, and that can still happen today; that would be 414 area.
That's very healthy, too healthy and its bullish

So my inverse H&S is still valid and the target is 420

Enjoy the day !


Comment:
if we cant brake 416, high from yesterday, then we may retrace to 414 (fib .38)
and then resume attack on 416, perhaps braking it and getting to 416.73.
that would leaves us with small pullback in the morning tomorrow, C&H and end the week on double top (ATH) at $417.85
Comment:
When you trade on NEWS, you loose; stick to one method that is trend and chart.
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