AdamParmer

SPY broke bearish pattern. Now what?

AMEX:SPY   SPDR S&P 500 ETF TRUST
The SPY has broken this descending triangle pattern. Now that there is not a bearish formation, where will this head now? RSI is not overbought, MACD is just starting to send a bullish signal. It looks as if there will be some slow, arduous, upward movement.

After breaking this pattern, the ETF found support at the 50 day SMA .

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descending triangle, fake out
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