stephen.punwasi
Long

Should you short the $SPY?

AMEX:SPY   SPDR S&P 500 ETF
110 0 1
The SPY             has been consolidating over the past few days, but technicals indicate it may push into new highs soon. Keep an eye out for rejection at 198.20, which might indicate a triple top and pending reversal, but any clearance would be a safe entry point to go long. Careful shorting on the rejection, since it could be a 0.5% gap fill.
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