Looks like Monday should bring some resolution.
Below $168.75, Above $170, possibly $169.75 if it shows strength
"D" time frame can go either way, "C" time frame can go either way (though a Head & Shoulders developed, measured move to about $166.30), "B" time frame I would consider a sell signal trigger (down arrow) with a stop at $170.20ish. The "A" time frame, it has had opportunity but no committment. Three red doji candles on the 20-day MA don't look all too strong. You also have to consider the fact that whenever the SPY has a problem with resistance it has often times had a gap to, or above, that resistance. Just saying that a gap up momentum move wouldn't surprise me, neither would decent selling.
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
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