nmike

SPY monthly update

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
14
The bullish trend continues. SPY is currently above all blue averages with price close to a parallel CLONE trend line resistance. The Fisher is overextend but no bearish Fisher patterns or divergence. It will be interesting to see if history repeats itself and we get a similar Fisher topping pattern like the previous 2. The current Fisher peak could be the start of that pattern. If we break trend line B the next upside target is about the height of the A B channel.

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