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andrew.berg

SPY trapped buyers

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SPDR S&P 500 ETF TRUST (AMEX:SPY)  
andrew.berg  
AMEX:SPY   SPDR S&P 500 ETF TRUST
SPDR S&P 500 ETF (SPY) short breakdown Bearish Patterns
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spy short breakdown bearish
Yesterday, was wide, ignited, green candle closed on dead highs. But today S&P opened with gap down 11 handles and traped some active buyers. The price closed slightly below 3-day support 204. It will take some momentum off and can lead to further downside or choppy environment.

Today's candle triggered SHORT position with STOP abpve $206.50 and TARGET on previous support at $201.

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