SPDR S&P 500 (SPY): 265.50 is 50% retrace of this move from...

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Re: NetNeutral post# 276323

Friday, 01/18/2019 1:36:55 PM

Friday, January 18, 2019 1:36:55 PM

265.50 is 50% retrace of this move from 264 to 267. Could see support there band the 15m chart supports this.

We don’t hold up there and we could be printing an obvious, tall wicked reversal candle on the daily.

The current 60m candle is bearish engulfing. On a Friday afternoon in an over bought market these can trigger dramatic selling into close.

Just my $.02.

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