APosner
Long

$SPY pausing at trend line resistance 06-11-2014

AMEX:SPY   SPDR S&P 500 ETF TRUST
SPY's rally has paused with a spinning top but in no way does this indicate the larger rally is over. Price can consolidate here and form a continuation pattern on a smaller time frame before rising again. We should see the stochastic rollover but stay above 50 unless this is a significant selloff. For now I don't see that in the chart.
This consolidation will allow price to come in closer to the LSMA and give a new entry.

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