Short and PUT Profits

Happy Friday traders, hope you have fun plans this weekend after your short and put profits the last few days! The SPY is now below all the T-Line Bands which is a major warning sign. The 34-EMA, Dotted Deuce Line and the 50-SMA are below price and may help to soften the pull back a bit. The Evening Star and the Bearish Engulf clues are seeing follow through and will stay that way until the Bull Rises. A couple of short term targets I see for the sellers are $270.35 and $267.25 with one or two minor relief rallies along the way. Note the Weekly chart on the SPY is printing an Evening Star clue that could lead to the 50% retracement of $262.75. The bottom line is that the sellers have taken a bit and will continue to bit until the bull has had enough; the chart will tell the story. Have a great weekend fiends

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