SPY rangebound rest of today - awaiting tomorrows data

SPDR S&P 500 ETF TRUST (BATS:SPY)

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BATS:SPY SPDR S&P 500 ETF TRUST

Wedge

Spy appears that it will be rangebound as the two different wedges I have draw come to a point at 2:30 and 4PM this afternoon. Don't recommend any short term options expiring today. I was lucky and caught the downfall this morning after it tried to break out and closed for ~90%. My guess for tomorrow is that it will break upwards based on this mornings open above. Good luck trading!

Commentaire:

Well, it literally broke down while I was typing up my comment... HA

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