SPY is approaching a very strong resistance area.
The SPY is approaching a major resistance zone which makes me hesitate going long as there may be some sideways trading for a while until the markets builds some type of momentum. Would recommend going short here however the SPY still needs to break its minor upward trendline and show some weakness through declining volume. Will consider taking this trade once the trendline breaks and CLOSES below it.
Decent risk/reward ratio.
Decent risk/reward ratio.
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