DaddySawbucks
Short

SPY Bear Flag Forming Up to Fill Gap

AMEX:SPY   SPDR S&P 500 ETF TRUST
Chart says all. Gaps tend to get filled. After that... hmmm.

Trade at your own risk this isn't advice, just a half-baked idea...
Dec 11
Trade active: Gosh the prices moved to fill in my chart, just a lucky guess; and yet another gap formed and filled intraday 12-11... sure looks bearish. GLTA
Dec 17
Trade closed: target reached: Got 253.5 in Monday trade. .382 Fibo retrace > 260; .50 > 263. .62 would be optimistic IMHO would get 266.

Comments

Totally agree! The month just started so we could see more selling leading SPX from its retracement at 270 to a bottom around 250, with the month closing at 260.
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@tipere445, Seems likely. Good luck!
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