2waytrading

50-Week EMA crucial support 139.20 before $157

BATS:SPY   SPDR S&P 500 ETF TRUST
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Now, wait and see kind of situation. Expecting price to retest 50-day exponential moving average before we extend current swing higher. Next possible upside target for the year is $157.50. Would buy some puts this week if price stays current levels or even adds to a point or two. My stop loss will be 1% above Friday's close with target price $144 for the week.

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