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timl163

SPY will be up for the next few bars.

Long
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
timl163 Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Technical Indicators
3
3
trendanalysis chartpattern indicator
It can possibly make a new high.
Comment:
After the bull flag, Nov 3,4,5 made a parabolic move. On Nov 9th, the bulls started taking profits, and the bears came in and made a climax reversal. If the bears believe SPY is over-valued at that point, they would have continued the sell on Nov 10. But on Nov 10, the selling paused at the doji bar. The next few bars following through indicated the bulls gained control.
Comment:
Nov 20 was an inside bar and Nov 23 was bullish on the up side. Today
Nov 24 breaks the bull flag trendline formed from Nov 16 to 23. ATH is on the way.
Trade closed: target reached:
Idea is now updated in the new chart. Refer to the link.

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