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tristan.rhodes

Short SPY: Dirty Dozen bounces off support and resistance @ 208

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SPDR S&P 500 ETF TRUST (AMEX:SPY)  
tristan.rhodes  
AMEX:SPY   SPDR S&P 500 ETF TRUST
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SPY has bounced off the 208 price at least 12 times in the past 7 months. Most recently, it bounced down from resistance at 208 two times.

The multi-year trend line has been penetrated. I think that fear is going to kick in and SPY will drop, perhaps 25% to the matching tops of the past two bull markets.
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