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All Roads Lead Higher Short-term for SPY


Since Monday's pullback low at 143.19, which nearly tested the lower channel line off of the January low, the S&P 500 SPDRs (Amex: SPY) have rocketed towards the upper channel boundary -- next at 146 -- where the price structure should either pause for a rest or pivot to the downside in a significant reversal spike. Right now, all roads point higher in the upcoming hours, prior to what my intermediate-term work is warning me will be a major opportunity to establish short positions.
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