ccaru
Short

Short SPY on breakdown of bearish wedge

AMEX:SPY   SPDR S&P 500
93 2 0
Yesterday the SPY             closed lower than the rencent uptrend line which can also be attributed to the lower boundaries of a bearish wedge pattern. Watching closely to see whether the market will open with further weakness and will short the SPY             if it does. Initial stop is at 209.37 but will look to close the trade on any signs of strength. This one will need a tight stop. Will consider re-entry if stopped out.
...and just realised that in my chart i've put in a long entry by mistake. This trade is a SHORT.
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Adjusting stop to 206.40
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