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davidconnelly

SPY ... A bearish Megaphone pattern may be "in play"

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
davidconnelly  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Elliott Wave
6
0
trendanalysis elliottwaves
.... using Price Action ... the SPY 296 area is the recent pivot low candle prior to a newer high candle.... a close below this area violates support and would suggest more lows are to follow. This is the area to watch closely and it would be a conservative location for a short position, with a stoploss slightly above the recent high.
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