SPY Backtests Rising Trendline

SPY Backtests Rising Trendline

So far it's been a sideways day for SPY. SPY is pretty close to filling the gap at 106.1. I didn't think it would happen but now that it is, I view it as a buying opportunity. Also SPY is backtesting trendline A which defines the entire up move from the 101.88 low. If SPY fails the backtest then the gap fill is guaranteed and I will get long at 106.1. If SPY rallies back above trendline A, then I think SPY hits 107.5 later today.

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