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olijoel
Jan 28, 2014 7:04 PM
Triangle? Downward Movement Continues
Short
AMEX:SPY
30
SPDR S&P 500 ETF TRUST
Arca
Description
⋅
Jan 28, 2014 7:04 PM
Looks like a triangle formation, if so, the pattern suggest that downward movement should continue after termination of pattern. Using the amplitude of first impulsive wave (184 to 177), Fibonacci tool suggest price should go down to 166.89.
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