SPY Shorting Opportunity off of Historical Resistance Levels
Updated
Based on an analysis of daily, weekly charts, traders should look for SPY to hold resistance and drop to an expected price target of 420-425ish.
Note
If one is expecting to gain 30 points, a stop loss of 10 points in the opposite direction would be appropriate. That said, my personal stop loss is at a 2% loss level which for my position size is 464.
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