The S&P Could Go Higher Or Lower From Here, But Here’s The Trade!

The S&P 500 tracking stock SPY failed against Fibonacci resistance as expected and has bounced back into wave ii resistance. We are net long in our portfolios but seriously considering exiting and taking a low risk short against wave and Fib resistance. In the end you can’t know for sure what the future holds, only chose the most likely path with the lowest risk.

Todd Gordon
President/Founder
TradingAnalysis.com

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