Short SPY: Dirty Dozen bounces off support and resistance @ 208
SPY has bounced off the 208 price at least 12 times in the past 7 months. Most recently, it bounced down from resistance at 208 two times.
The multi-year trend line has been penetrated. I think that fear is going to kick in and SPY will drop, perhaps 25% to the matching tops of the past two bull markets.
The multi-year trend line has been penetrated. I think that fear is going to kick in and SPY will drop, perhaps 25% to the matching tops of the past two bull markets.