November 26, 2010

SPY with a broadening wedge

  • SPY chart with a right angled broadening pattern.
  • Resistance is at 120.39. Support for today is the day's low at 119.03
  • If today's gap is filled the bullishness can sustain only if price closes above 120.39 otherwise selling pressure will take spy down.
  • Statistics of right angled broadening pattern shows a larger percentage of upside breakouts.
  • S&P 500 FUTURES ANALYSIS

No comments:

Post a Comment