TradeVulture
Short

SPY: Setting up distribution for leg down.

AMEX:SPY   SPDR S&P 500
135 3 1
Following the move we're in, to target what's been left untested. What must follow distribution? A leg down.
thank you for posting. JPN225 was down as much as 600 earlier, I wonder how much they sell this thing in OP EX week. It appears Santa may not be so merry this year for equities, or Christmas came early. With JNK getting ripped, sell off may have some impressive down days?
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TradeVulture stockSMASH
Very possible. Everything in this leg down would technically be second tests, which usually means follow through. Only thing I see they left untested was the leg start. Have to look at bigger time frame for more reference.
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TradeVulture stockSMASH
Weekly for reference
snapshot
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