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Teklologist

SPY: Topping within potential channel

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
Teklologist Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Technical Indicators Chart Patterns SPDR S&P 500 ETF (SPY) S&P 500 (SPX500) SPX (S&P 500 Index)
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trendanalysis indicator chartpattern spy spx500 spx
Something to keep an eye on.

Top of potential channel formed from support (teal lines) breaking (red line) and becoming resistance (pink lines). Channel formed by former support line and December’s low. Notice the bounce off middle of channel. Simple and smoothed MACD turned downwards.
Comment:
Published this via mobile. Lines and channel properly lines up prior to publishing, or at least they appeared too. TV should improve charting for mobile. Hopefully my point still gets across despite things being askew.
Comment:
I need to give up using TV mobile. Here’s what chart should look like.
snapshot
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Comment:
One step further to show intersection of fib, channel, and resistance line.
snapshot
Comment:
For Spx500 but still applicable.
snapshot

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