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QuickTradePro
Sep 29, 2021 6:58 PM

Short $SPY CMP $436.58 Short

AMEX:SPY1D
SPDR S&P 500 ETF TRUSTArca

Description

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Short SPY CMP $436.58. Appears to be head and shoulder formation on daily chart. Rejected from long term trendline. Next support ~$420-$425

Trade closed: stop reached

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Price was 3 points away from target. Failed to reach $423 level
Support and ResistanceHead and ShouldersSPDR S&P 500 ETF (SPY) spyshortspyshortshead_and_shoulderheadonshoulders
Comments
christianmartin4746
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What about the dollar gap it made on the 28th? Is SPY going to forego it?

** I do not trade SPY so I am not familiar with how it moves
QuickTradePro
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@christianmartin4746 It will be filled on uptrend. I am expecting heavy selling and downtrend in coming days. I do not see a proper support for SPY below current level to all the way $425 area. Maybe $431 can act as support. We will see.
christianmartin4746
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@QuickTradePro, Interesting, my bet would be on $425. I got MSFT and FB dropping quite a bit over these next couple of weeks. If I can figure the SPY I can time it better
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