kyleeto
Short

$SPY short setup

AMEX:SPY   SPDR S&P 500 ETF TRUST
If we zoom out to weekly candles we see that SPY is still trading just above the 50 dma and way above the 200 dma.

The last two weeks show a doji candle followed by a bearish engulfing candle. In addition, we opened this week below what is now resistance at $288.

I believe we will see SPY test the 50 dma (~$280) by the end of the week. At that point I would sit out for a week to see if support holds.
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