BigWaveTrader
Long

Swing bullish setup on Monday or Tuesday

AMEX:SPY   SPDR S&P 500
Market tested intermediate trend support multiple times. We have bullish divergence and a possible resistance break out from the down trend that started 6/18.

For this setup:

(1) Price must break out of trend line resistance
(2) RSI continues to diverge and find support, and breaks out of resistance
(3) Duration could be 2 to 3 days in length, potentially longer or shorter depending on the price behavior

RED circle w/blue horizontal line is the entry area.
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