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olijoel

Triangle? Downward Movement Continues

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SPDR S&P 500 ETF TRUST (BATS:SPY)  
olijoel  
BATS:SPY   SPDR S&P 500 ETF TRUST
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Looks like a triangle formation, if so, the pattern suggest that downward movement should continue after termination of pattern. Using the amplitude of first impulsive wave (184 to 177), Fibonacci tool suggest price should go down to 166.89.
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