SPY Rejected Upside Resistance May 27, 2015

By Lawrence

As explained in last update on Emini S&P, the up channel breakdown will lead to a quick drop back down.

Here is the same chart I posted back on May 13, 2015 showing how SPY was trapped between the two yellow zones.

Now that the upside is rejected, SPY will likely head towards the lower one.

To learn more about basic chart reading, check out Art of Chart Reading Online.

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