RealTradingEdge
Long

The crowd is usually wrong

AMEX:SPY   SPDR S&P 500 ETF
438 0 7
Epic trading action this week and the adage that "the crowd is usually wrong" was once again demonstrated.

This week's sell-off on Monday hit most of our downside targets we posted last week with the exception of the 2 remaining gaps @ 177.48 and 173.22.

The likely scenario is that we've found a short term bottom here.

A playable trade is for the market to pullback to the downside to fill the gap @ 194.68 followed by a rally to fill the gap @ 208.32 and a re-test of the symmetrical triangle.
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