Potential Swing trade on SPY

١ أغسطس ٢٠١٧

Spy has been following that trend line to a tee. Going to wait to buy down at support or maybe the retest on a breakout. You can actually argue that this bearish move is the retest of the recent breakout so I will pay attention to a bounce somewhere in the shaded area. Could be a very strong support to buy with horizontal support as well as trend line support. Great opportunity to buy the dip or wait for the bounce off support.