Ape

Relief Rally for Spy

BATS:SPY   SPDR S&P 500 ETF TRUST
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Recently I posted charts on the spy that displayed signs of the bears taking over. Those that went short have been rewarded handsomely. I am now seeing positive divergence in the hourly chart which tells me the bears are starting to loosen their grip on the bull and will allow a relief rally of sorts to the 152 area. I am still overall bearish and will look to re enter shorts as long as the SPY grinds to the 152 area.

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