Ape
Short

SPY Still Bearish

BATS:SPY   SPDR S&P 500 ETF TRUST
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Even as prices rebounded after the heavy selling, the SPY still appears to want lower. As it neared the downward trend line at the end of the day, it was met with heavy resistance first initial entry was at 152.20. Tomorrow will be key, if price can close below the regression line on the daily it will be immediately bearish looking for 148. However if price can advance, and settle above 153, it may be looking higher.

**To get intraday updated on my trade ideas check out my blog at: http://junglestocks.wordpress.com/
You can get hourly charts and mid day trade ideas with entries and exit points.

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