RyanONeill41

$SPY Chart analysis 15 minute chart

AMEX:SPY   SPDR S&P 500 ETF TRUST
281 Acting as near term resistance at the moment. Notice heavy selling volume on the 10/10. Retested a week later 10/17. I believe bias is towards the downside with a near term target of retesting the lows of ~270-271. Lower lows on the RSI confirming downward trend. May or may not be a bearish triangle forming as well. Heavy volume can push towards the ~281 resistance and trigger going long.

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