Tradewave
Short

SPY testing a key trend line

AMEX:SPY   SPDR S&P 500 ETF
spy
170 0 1
spy
SPY             is currently trading above a key trend line that has defined this market correction. A massive V shaped bounce is underway.
This chart attempts to show what the possible scenarios are in the cards going forward.
There is quite a bit of overhead resistance going forward, but resistance is only potential resistance.
Also pay attention to gaps in the 190.5 and 187.
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