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Analysis: #NYSE $SPY

Case 50 #SPDR S&P 500

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

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#SPY 1/6
It seems as though the up move will never end but a correction is long overdue.

SPY 2/6
Chart 1
Monthly Chart: Currently breaking above #trendline resistance and the immediate target is 315.54 then 338.47 and the first synthetic trendline #resistance stands at 342.91. ....

SPY 3/6
.... #Fibonacci confluence points to 355/56 longer term. Minor and major support in the shaded areas. The lower #BollingerBand at 253.41.

SPY 4/6
Chart 2
Weekly Chart: The #SMA200 has been supporting the current trend since 2011. The break of #trendline resistance can be seen clearly.

SPY 5/6
Chart 3
Monthly Chart: The #strategy plan printed on the image.

$SPY 6/6
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