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mproger

SPY bounce to 280 resistance

Long
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
mproger  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Technical Indicators bounce longsetup support SPDR S&P 500 ETF (SPY) Falling Wedge
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trendanalysis chartpattern indicator bounce longsetup support spy fallingwedge
SPY looks good for a possible bounce (to 280) even with the QQQ sell off today. The oversold readings and the falling wedge help solidify the bounce with a breakout of the wedge.

Note-SPY bounce will only occur to full measured target IF QQQ and tech hit their selling climax. Otherwise it will be another sell the bounce event.

This should be a bounce within a downtrend with a continued reversal away from 280.
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