ElactixNova

Spy: Downward Movement Ahead.

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
SPY is heading down. With the spy seeming to be getting stalled out and the red candles having more volume then the green candles in the past four sessions shows that this uptrend is losing steam. Wit6h the blue trend line from the pitch fork acting as a trend line. In addition, SPY has had 8 days in a row before Tuesday with higher highs. This strong bull trend has not received a pull back and the volume can’t support it anymore. The blue line representing the fib lines should act as good support and resistance. Finally, the RSI is fairly high which is calling that this push is overextended

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