CosmicDust

SPY weekly - another lower high from top - 3/25/2016

AMEX:SPY   SPDR S&P 500 ETF
spy
112 3 4
spy
This week was in the book, and the SPY             closed at a second major lower high. I suspect it is heading to $185 level, about 8% drop from current level.

Might be a good idea next week to open a short position with a stop at about $206. Risk is about $3 dollars, and reward can be $10+.
I imagine a really fast selloff should everyone agree... i wonder if there will be a surprise reason coming out now
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If you observe 200 day moving average line, it is nice and smooth, not a lot surprises (some but not a lot like day by day surprises). If price and RSI can break out from the downward parallel channel, that can be a game changer (more like 2011/2012, than 2007/2008).
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2use CosmicDust
havent we already seen the 2011 drop down
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