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SPY BEARISH BIAS RIGHT NOW| SHORT

Short
SPDR S&P 500 ETF TRUST (BATS:SPY)  
EliteTradingSignals Updated   
BATS:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Wave Analysis SPDR S&P 500 ETF (SPY) short SELL trading Bearish Patterns Forex forecast tecnhicalanalysis Contains image
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Hello,Friends!

SPY is trending down which is evident from the red colour of the previous weekly candle. However, the price has locally surged into the overbought territory. Which can be told from its proximity to the BB upper band. Which presents a beautiful trend following opportunity for a short trade from the resistance line above towards the demand level of 523.11.

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Comment:
I stand by my prediction and my idea is confirmed by the fact that the pair is moving towards the target!
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