dubi_m
Short

S&P loosing long term trendlines

AMEX:SPY   SPDR S&P 500 ETF TRUST
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Haven't been short for a while but I'm thinking bears finally have it. We're back in the 2008-2013 channel we broke over and the longer trend from 2004 seems to be failing here. Not thinking we see 2008 crash but can't ignore what happened last time when we failed to hold the breakout. I'm thinking we correct to bottom of the 2008 channel. Probably 1700ish
VERY POSSIBLE we will get a bounce here to form a right shoulder.
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