Trade_Wind
Long

Long S&P500 off pennant continuation pattern

AMEX:SPY   SPDR S&P 500
Long on S&P based on pennant formation, repeatedly tested support at 233 (.236 fib), and high volume displayed at fake below support suggesting demand below 233.
Intention is Long entry at retests of 233.5, with SL at 231.5 and TP at 240.
Uncertainty surrounding Trump rally could well lead to a breakdown of support, particularly in response to news and/or economic releases.
Order cancelled: Support failed rendering pennant invalid. Will look for long entry
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