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stinkbug

SPY Channel - Now back inside

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
stinkbug Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis
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trendanalysis
Kind of a play on my SPX channel, but SPY channel seems more clear. We are now inside the channel and its the top of it is now acting as resistance. Maybe we will ride along this channel for a while.

I think we go down and test the mid range at least.
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Love TD sequential, showing on 15 min 9-13-9 exhaustion and right at top of channel...usually means some sort of correction but we will see.
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Triangle with red 8 and potentially red 9 at the bottom, we should see 1-4 candle rebound and the big question is will that take it to the top and then blow out the top of the triangle or will it come back down and breakdown.
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Made a mistake on commentary, to get red 9 we would of had to drop out of the triangle. So i think we get a price flip to 1 and see if it keeps going higher for green 2. But the triangle top is going to be critical.
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Triangle working out pretty good...lets see if it moves up to top.

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Well that worked out pretty good..

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