SPY ETF: Stops Hit

We had been saying that we had tight stops. We used 270 S&P 500 SPY ETF (NYSEARCA:SPY) as our level and it was hit today. There is probably follow through downside to the market now.

We said the market was extended but wanted the market to help us decide what it wants to do. Did it want to keep rising or break?

That it broke our key level we think it's saying there's risk to the downside now.

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