jamison.gaddy
Long

Signs of BULLISH absorption are present $208 target

AMEX:SPY   SPDR S&P 500
spy
(1) Heavy selling on May 17, 2016 that failed to break support is a sign of buyers absorbing supply
(2) Bearish close on May 19, 2016 below support with no follow through is another sign of "dip buyers."
Great explanation of your trade idea, thanks!
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