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FriscoTrades

$SPY consolidating for next move

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
FriscoTrades Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Support and Resistance Trend Lines Triangle SPDR S&P 500 ETF (SPY) SPX (S&P 500 Index) QQQ IWM Stocks bearmarket
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supportandresistance trendline triangle spy spx qqq iwm stocks bearmarket
Thinking another day of chop then possible larger move Friday or early next week.

I like that gap above but trend is certainly down. Perhaps we get the gap fill above before another solid leg down ... keeping it level by level.

Thoughts ?
Comment:
Nice bounce of the trendline support : )
Trade closed: target reached:
Boom breakout above sees 390 gap fill most likely... from there expect more consolidation to gear up for next move
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