YusufS
Short

SPY CHANNEL PLAY

AMEX:SPY   SPDR S&P 500
Completely parabolic action today in the spy             .
1) ran right into resistance on daily chart
2) fading volume of trend
3) RSI didn't register overbought when market made its last structure high
4) blow off top candle on 30 mn             chart
5) lots of selling on level two

The rectangle below is the profit target (2 gaps down there that need to be filled)
Trade closed: target reached: Successful trade, if you listened and profited, good job.
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