MrCanada

SPY reaching strong area of resistance.

AMEX:SPY   SPDR S&P 500
spy
The S&P             is reaching a strong area of resistance. If you are long I would follow closely and keep a tight stop. I would not add to your long positions or go short just yet. I would wait for the 5&13 ema to cross or the slowstoch to go below 80 before selling and/or going short. I would put my stop just above the previous high.
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