Red_Ben

SPY Hourly Diamond Top at Daily 200 ma

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AMEX:SPY   SPDR S&P 500 ETF TRUST
Potential topping pattern developing on SPY. Short the breakdown of the diamond top. I'd also be open to waiting for a test and fail above the daily 200 ma, as this has happened twice before (usually with a daily doji) but if we break down before testing above, I'll short that too. Longing a breakout here seems ridiculously greedy.

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