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SPY Wedgies

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
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AMEX:SPY   SPDR S&P 500 ETF TRUST
Chart Patterns SPDR S&P 500 ETF (SPY)
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chartpattern spy
Shifting the last wedge down as previously mentioned. Seems appropriate now that SPX futures are down 19 pts. The Friday high may be the resistance.

I expect the market to close the gap tomorrow, but who knows, we may have hit the top, the wedge pattern is technically complete. I mentioned Friday that it's time to start buying some puts... I hope NFLX tanks, lol.
Komen:
Dropped more than I thought on the initial break out of the wedge, and this back test looks weak.

If this is a true wedge breakout, then expect a target around $250. I have a feeling we're going to drift sideways like last May. I'm long on FFIV, short on NFLX. No position for indices, let's see what happens at the end of the day.
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