SPY ready to fall after Dow20k run fails

17 בינו׳ 2017

After the long battle for the Dow20k push finally failed I think we are going to see SPY drop.. it has tested the 227.33 resistance point twice and failed.. We do have a volume dry up at the top here so that is always a sign to me that, a sell of it coming and SPY is likely to drop. Stochastic turned sharply bearish. Wait for bearish brothers grim or an engulfing. Set alerts at 219.67 and 208.70.. If it passes both of those I might suggest a stop at 201.