nmike

SPY weekly CLONING analysis

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
10
I isolated 2 major swings and a smaller reference channel C swing and then I CLONED them. As you can see SPY is setting at just about all 3 CLONES top boundaries. It will be interesting to see if a confluence of forward CLONES top boundaries will be hit in the future. I will start adding more CLONES if SPY can clear the red line resistance and all 3 CLONES top boundaries. If this is indeed the top and SPY begins a prolonged correction we could see SPY fall to bottom of CLONE C3 support as 1st target.

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