SPY: Bearish Candles At The Highs

I wanted to show a quick update of the current SPY (SPY) (which is similar to the DIA and QQQQ) ETF chart to note two ominous bearish candles at the recent highs of $100.00. Let’s take a look.

This chart shows the entire run-up from the early March 2009 lows to the current highs a few pennies shy of $100 (1,000 on the S&P 500 Index (^GSPC)).

As price challenges this ‘magnet trade’ target, we see that the last two trading sessions have formed upside down doji candles, … [visit site to read more]

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