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HoustonxMTL
Aug 23, 2015 1:19 AM

Intermediate bias to the downside on SPY Short

AMEX:SPY1W
SPDR S&P 500 ETF TRUSTArca

Description

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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

SPDR S&P 500 ETF (SPY) ESSymmetrical TriangleTrianglegapfillFibonacciBearish Patterns
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