TylerSimeone

SPY Approaching Long-term Resistance

AMEX:SPY   SPDR S&P500 ETF TRUST S&P 500 ETF USD DIS
We can see that SPY is nearing in on a long term ascending support->resistance level. This circled area has the potential to bring some volatility back into the markets in the near future. Combined with Ending/Beginning of year, a red month or 2 in near future would not be at all surprising to see. Fundamentally speaking, not sure what would be the catalyst here, only speaking technicals.
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