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HoustonxMTL

Intermediate bias to the downside on SPY

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
HoustonxMTL  
AMEX:SPY   SPDR S&P 500 ETF TRUST
SPDR S&P 500 ETF (SPY) ES Symmetrical Triangle Triangle gapfill Fibonacci Bearish Patterns
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spy es symmetricaltriangle triangle gapfill fibonacci bearish
This week the SPY broke out of the symmetrical triangle then filled the gap we called out at 201.62 and retraced 100% of the previous swing.

The intermediate bias is now to the downside and there are numerous downside targets -

  • Gap fill @ 196.16
    Fib target @ 192.02
    Gap fill @ 190.30
    Gap fill @ 186.27
    Fib target @ 178.53
    Gap fill @ 177.48
    Gap fill @ 173.22
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