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iijarrett

Bloody January ahead for SPY

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SPDR S&P 500 ETF TRUST (AMEX:SPY)  
iijarrett  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Technical Indicators SPDR S&P 500 ETF (SPY) short
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trendanalysis chartpattern indicator spy short
We have descending triangle forming on the hourly/daily charts. I believe we will see a sell off once below 374.80. Possibly down to the 360 area. Since the Fed will be raising rates again in February, were going to be in for another choppy/bloody hard market to trade this year. If you made it out alive this year, that is something to be proud of.
I believe the overall bottom will be around the 325 area sometime around April.
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