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S&P 500 at Strong Resistance, Short Trade Setup for SPXS

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SPDR S&P 500 ETF TRUST (BATS:SPY)  
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BATS:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Technical Indicators SPDR S&P 500 ETF (SPY) spyshort spy500 spyanalysis spyforcast spysignals spyoptions spyidea spyindex
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trendanalysis chartpattern indicator spy spyshort spy500 spyanalysis spyforcast spysignals spyoptions spyidea spyindex
SPY is trading at a key resistance level, the white resistance line that has consistently provided strong rejections for the S&P 500. I am taking a short trade setup by going long on SPXS.

Price targets:
- Red support zone between $469 and $477
- Red trendline around $433 (price increases over time since the trendline is sloped upwards).
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