SPDR S&P 500 ETF TRUST

SPY at Monthly Trend Line Resistance Again

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I was able to call the top back in February by using this simple trend line (see my related idea below for proof).

We are currently hitting this same line again. It doesn't mean this is the top, but it's a possibility. It's also possible that SPY breaks to the top, tests this trend line as support and goes parabolic like we have seen in the past (1999). It's a key area for a good risk reward setup.

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