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GoldBands

Potential SPY Price Target of 321.50

Long
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
GoldBands Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Support and Resistance Oscillators Moving Averages SPDR S&P 500 ETF (SPY) openingrange openingrangebreakout hiddendivergence HMA rsicandles
5
3
supportandresistance oscillator movingaverage spy openingrange openingrangebreakout hiddendivergence hma rsicandles
If SPY Sustains an Opening Range Breakout, Price Target is $321.50.

Look for resistance at 321.23 which is the overnight high (pink line).

The overnight selloff helped to reset the RSI Candles which are showing hidden divergence, a bullish continuation pattern.
Comment:
Price rose to 321.44, missing the target price of 321.50 by 6 cents.

Not only did the overnight high act as strong resistance, it was right in the middle of the 1.5x and 2.0x operning range extensions (gold and yellow lines respectively.

snapshot

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