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TA Play Of The Day | $SPY

Some major price action on SPY today... my goodness. I was on spaces and talked about what I saw on the chart for SPY and broke it down with everything so you can what I was looking at.

Entered puts here because:

  1. Below the Dark Pool level @ 449.09

  2. Below Trendline

  3. 9/21 EMA was bearish

  4. Candle rejected off 9 EMA with rising price and lowering volume

  5. Rising volume on the next candle down

This is how it played out:

The 447.99 level was key for me because it was the low of day on the daily inside bar candle from two days ago. When that pattern plays out, it can signify a bearish reaction.

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