casanova1012
Short

SPY is approaching a very strong resistance area.

AMEX:SPY   SPDR S&P 500 ETF
28 0 2
The SPY             is approaching a major resistance zone which makes me hesitate going long as there may be some sideways trading for a while until the markets builds some type of momentum . Would recommend going short here however the SPY             still needs to break its minor upward trendline and show some weakness through declining volume . Will consider taking this trade once the trendline breaks and CLOSES below it.
Decent risk/reward ratio.

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out