nicoacademia
Short

profit taking - bearish situation exists

AMEX:SPY   SPDR S&P 500
116 1 2
1)couldn't close and hold above key resistence.
2)big bearish overwhelming the market
3)there will be dip buyers(but have we seen a dip? no.)
when the market opened above 170 that was a loss. its now on a breakaway gap. things are bullish.
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