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SPY – hit the lower symmetrical triangle this morning

This morning, Dow closed -191 points and it seems like there is blood everywhere. However do take note that S&P now is resting at the symmetrical triangle which signify a possible support. Therefore if you are thinking about shorting, do watch your risk and don’t go heavy.

Do note that my chart is not updated. The line drawn is the closing this morning.

That means tonight will know if it will be supported or it will crack. Asia may lead first, but the ultimate story is still Europe.

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