ContraryTrader

437.70 and back Down

做空
AMEX:SPY   SPDR S&P 500 ETF TRUST
Resistance on rising wedge is 437.70 but lets say 438. If there is any pullback at this height im sure the banks and travel stocks feel it first since QQQ has more room to run. I expect revisit to 432$ support next week some time. On the other hand this could grind up but only if the Dow hits an ATH. Im thinking they play ping pong with wedge resistance and 50ma for the rest of july then unload in august.

Becareful out there if your long.

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