themarketzone
Short

$SPY - trading channel breakdown

AMEX:SPY   SPDR S&P 500
Do you expect current pattern's breakdown to have the same impact as previous time? Or much more severe impact?
First bearish sign in weeks in the $SPY
still on target?
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Still below broken trend line.. so yes. Some shaking out action was expected. Only a weekly close above previous high and above the broken line will violate this analysis
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leokaplin themarketzone
so tomorrow will be HUGE selloff...you are saying?
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Either a sell of (not sure that tomorrow will be huge) or small rally. I can't predict the future. I can only act on a setup that gives low risk and potential high reward. If after the FOMC the technical situation will remain the same (meaning the setup will be valid), i think it will be a great R/R trade.
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Everything ok so far.. I liked the price action today, especially the small sell off after meeting the trendline
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