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Short

SPY(4h) - finally wedge plays out

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BATS:SPY   SPDR S&P 500
2060 1 1

Got tired of waiting for it to play out, open below May support and below the 0.236 fib level is a good sign of a decent bear. We have some support here and SPX             daily bounced of MA(50) so we could see some hesitation. But I'm biased for some more downside, 0.618 fib is my idea target here, we'll find out soon.

Measured move target was too darn accurate on this no volume move up, time for some give back!
Goes as planned so far and market internals were very weak today even as is McClellan Oscillator reads extreme oversold at -99.63 (that's a very low read with a +90% chance of a bounce tomorrow) 164 is support here (5/24 low). Should be interesting tomorrow, preserve capital
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