Shooting star on the daily SPY

Discussion in 'Technical Analysis' started by LEAPup, Sep 23, 2010.

  1. LEAPup


    Looks like the final push. Bulls giving away. Have shopping list of shorts, ready to pull trigger.
  2. Corelio


    There are several shorts that have been triggered way in advance of this SPY "shooting star". Look at real estate and financials.

    Also look at lagging energy plays that have been testing support and on possible verge of breakdown.

    Got to do your homework if you want to succeed in this business. A SPY "shooting star" won't do it my friend.
  3. LEAPup


    Agreed. It's just one of several straws that are breaking the bulls backs. Just wanted to point it out.
  4. Doesn't this formation have to close lower? I am having a hard time seeing it on FinViz, but on it looks like it closed right at the opening price.

    Nasdaq is not showing this btw. To me this looks like consolidation before another move higher. But I have been fooled before, many times before.