649bruno
Short

Bearish BAT Pattern IN S&P 500 (Using SPY as Proxy)

AMEX:SPY   SPDR S&P 500 ETF
149 0 3
The S&P 500             (also SPY             ) recently completed a Bearish BAT pattern on a one day time duration/ measurement basis. This is a possible 2618 trade, with the 2.618 level being approximately 1867 (on the S&P 500             ) as a meaningful target level. This would also be a .786 Fibonacci retracement (of the X to A impulse leg). The RSI as well as the Stochastic RSI (lower chart) is coming down from an overbought level. I currently own the following three positions: SH, DOG, and RWM. The SH is for a downside move in the S&P 500             . DOG is for a downside move in the DOW 30. RWM is for a downside move in the IWM             (Russell 2000).
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