chasel1
Short

SPY Major Resistance Rejection

AMEX:SPY   SPDR S&P 500 ETF
SPY             putting in a shooting star at the major resistance and a MACD divergence could be signaling a rejection. Will be watching for any additional signs of weakness in anticipation for a revisit to the key support areas. Trading against the trend and the formation of the shooting star on low volume are two things to be cautious of.
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