Short

SPY still not out of the woods yet - 2 ceilings to consider

Updated

Despite yesterday's attempt to drop under $280, SPY managed to close slightly above. Bullish forces are pushing it up higher but there are significant ceilings formed by the head and shoulders and a larger wedge. Fair chance that SPY will be retesting those two resistances.

Note

$286 and $290 could be resistance from the Head and shoulders and a larger wedge from march before the crash.

Note

Spy keeps going up. may not test the H&S neck line today. We'll see if it will test tomorrow.

medcore

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