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ratchet-mint

SPY is currently testing resistance trendline for false breakout

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
ratchet-mint  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Support and Resistance Trend Lines
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supportandresistance trendline
SPY is now in its upward false breakout territory of its main upward trend. Going upwards beyond this line would not be good sign for sustainable growth.

  • Healthy stock growth is slower than its period of selling
  • Growing at faster and faster rates shows signs of a bubble forming.
  • To maintain this upward momentum longer term we want to see the stock retract back into its normal upward trend.
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