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SPY Short term bounce possible

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
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AMEX:SPY   SPDR S&P 500 ETF TRUST
SPDR S&P 500 ETF (SPY) AB=CD
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spy abcdpattern
Drawing up a basic ABCD pattern with Fibonacci levels, it seems possible that the Friday sell off hit solid resistance at bottom channel line, and 1.618 level, giving probability of a bounce next week.
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