themarketzone

Testing previous record high following trend line breakdown

AMEX:SPY   SPDR S&P 500
Last Friday $SPY confirmed the bearish signal that we got during the Summer when it closed below its recent daily uptrend line.
Technically, 212$ is a support that can lead to a bullish pullback towards 216-218$ to meet resistance there.
My final target zone for the bearish move is 210$ and 208$ (the 200 days MA line).

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