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Monday, April 02, 2012
SPY - Target Reached
Based on the 3 day 5 minute chart: 100% rectangle target. The upper trend line of the projected channel. 150% Fib extension from the low. Very over bought. Tempted to short but, I already have 1/3 inverse ETF's. I will wait till the 123.60 Fib extension on the 60 minute chart to short: 142.48. If that happens, TVIX, VXX could be making a double bottom.