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ratchet-mint

SPY pushes beyond its upward trendline with massive momentum

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
ratchet-mint  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Support and Resistance
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supportandresistance
We should prepare for a short term pull back soon as SPY has skyrocketed beyond its upper trendline that is already in an upward trend.

  • Stocks climbing faster and faster lead to near term contractions
  • The last time SPY did this, market makers sold off a large position triggering a larger selloff.
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