themarketzone
Short

Confirmed resistance - trading channel breakdown

AMEX:SPY   SPDR S&P 500
Follow up on my previous post in $SPY, the trading channel breakdown seems to be confirmed by the resistance shown as the price challenged the broken formation.
Targets are much lower near the 196 zone.
This setup was also posted in this week's Weekly Markets Analysis newsletter.
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http://marketzone.tumblr.com/post/97990505610/weekly-markets-analysis-stock-market-trade-ideas
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