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drshoe

SPY bounces after 60% or 100% retracement level

Long
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
drshoe Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
S&P 500 (SPX500) SPDR S&P 500 ETF (SPY) spx500long
9
0
spx500 spy spx500long
SPY might bounce after these two retracement level. My bet is on 60% after market opens Jan 3rd. Be ware of wash and rinse and the market might overshoot the 60% level to run the stops then bounces.

Happy new year!!!
Comment:
haha it didn't wash and rinse at all. gap open and bounced my short vix position returned 20%+. a nice start of a year!
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