BEI
Long

SPY - Bounce before more down

BATS:SPY   SPDR S&P 500 ETF
125 7 1
Green boxes triggering orders, and targets will depend on FOMC and price behaviour until then. This should be good for the week but on daily chart i believe prices will cross MA50, this is ranging for me, until prices correct for real long term is down.
Follow the SPY update from this move at
SPY update
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target areas
snapshot
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Why only 5 boxes?
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BEI sublimares2
Hi sublimares,

Blue boxes are just levels i follow, they are just underline trendlines from symmetrical moves from the market, very efficient with Fibonacci levels and retracements. You can add as many boxes as you want.
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I see. Your trgt would be 164 I understand frm the chart.
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BEI sublimares2
Not necessarily, at that point i am not playing downside any more.
I believe the rubber band has been stretched so much that prices could snap back up quickly, like we experienced during the bounce of June. On one side I am keeping in mind that this may not happen so i am cautious, but on the other side i don't want to sell anymore because profit potential is not so appealing anymore. So i am playing the upside, adding while prices go on the upper or lower green box. From the technical point of view regarding the blue boxes, this might translate to a big wick in the lower blue box, like this morning, or maybe a 50% retracements in the box, this could be around 165, coincendently Fibo level is 165.14. For all those reasons i think support is solid and play is up, at least for a swing. But i think there is still more down to come, and 164 doesn't seem to be the end of it, for now (trendline of NOV2012 very near). Target will depend on FOMC but i am at least aiming for 50% on RSI.
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It makes sense- I can see it now.
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