September 14, 2012

SPY Chart analysis

  • SPY Weekly chart shows wedge breakout on the upside.
  • Monthly chart shows the last two peaks around 155 and 157 levels. Looks like the current up move will also test this level before the next major down move could happen.
  • 15 Minutes chart shows Trend continuation. For bears price must fall below 143 levels for a decent correction to happen. Sustaining above 145 price must continue to move up.

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