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FriscoTrades

$SPY Bull Trap ?

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
FriscoTrades  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Support and Resistance SPDR S&P 500 ETF (SPY) Stocks hedge puts SPX (S&P 500 Index) optionsstrategies
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supportandresistance spy stocks hedge puts spx optionsstrategies
In the short term SPY broke out of the downward trend however break down below will signal a bull trap and anticipate a move back down 427 zone.

Overly long so I want the resistance to now act as support. Perhaps consolidate even for next move up.

Hedging with 10/15 436P nonetheless . Big OPEX next week, see what they do with that coupled with a miss on jobs data (bullish IMO).


Good Luck Traders : )
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