SPY - Profit Taking! — SPDR S&P 500 (AMEX:SPY) / 2016-05-12 — damoonmotamedi

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SPDR S&P 500 (AMEX:SPY)

AMEX:SPY SPDR S&P 500

Market is trapped in a triangle! it may break either way. Low volume in recent days favors the upside.
$204 level on SPY is proven resistance (unless proven otherwise)!

Related Ideas

about SPY

GOING TO test SPY 181 and lower.

Trance-Man

No one can roll that out!

damoonmotamedi

It's been WAY TO orderly for too long with all the globe on the brink of testing things never tested before, and my opinion is that thus far it's not working, scarry. The last SPY push higher on Slow STO did not even get to 80 on daily SPY. Just a hunch but we could do a fast dump to test support on markets. QQQ doing terrible, and whats with APPL crashing worse than the flash crash and AMZN making new ATH. Doh. Also SPY STO is diverging. Chart on consumer staples looks freaky. http://schrts.co/Tj2C8X

Trance-Man

As long as Central Banks are supporting multiple expansions (QE, Easy money and etc.), Market crash is unlikely. We may even see new all time highs next week if they want it to happen!

Trance-Man

Trance-Man, This is how they do it!

damoonmotamedi

http://schrts.co/n2i3lh Going red, yep, I see. Virus-ish to downside.

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