AMEX:SPY   SPDR S&P 500 ETF
84 7 3
A look at the weekly SPY             chart.
IvanLabrie PRO
2 years ago
What made you choose these horizontal levels?
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SMP99 PRO IvanLabrie
2 years ago
They are levels that have previously had significance to SPY. I use multiple timeframes and/or chart types to find levels that have had significance.
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IvanLabrie PRO SMP99
2 years ago
I see.
I find it really hard for price to move back above 1970.
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SMP99 PRO IvanLabrie
2 years ago
That may be quite likely. I don't mean to imply that i think 204 is likely, only that if it is reach the risk/reward to the short side will be extremely compelling. If SPY stalls at 197-199, i think this too could represent a good short opportunity for a quick revisit to the lows of last week or even below.
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IvanLabrie PRO SMP99
2 years ago
My chart:

S&P500: Short setup
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SMP99 PRO IvanLabrie
2 years ago
long term i tend to agree. short term i'm watching this.
snapshot
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IvanLabrie PRO SMP99
2 years ago
Yes, I've had more than one person show me that apparent triangle. I don't think that's a triangle though. Just misleading intraday data.
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