juanclos
Short

Might this be possible?

AMEX:SPY   SPDR S&P 500 ETF
37 0 3
Pros:
1, Big left pole with a non tested lower 50%;
2, Formation somehow defined;
3, Season, in the middle of the summer where only traders without social life are in front of the screen.

Cons:
1, Sounds greedy sell at the top and profit from that long line;
2, The Elliot wave count has not given a reversal signal, as the retracement of the wave through the top was quite more than merely 38.2 %, indicating an excess condition which is showed in the big push up of last week;
3, Individual components are leading higher into the reports season.

To sum, It is a greedy and attractive point right now; short Stops, above the 214.0 line, objective is sub 190.00

A Humble Research by juanclos
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