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charles.fletcher.us

SPY: Broken wedge acting as resistance so far...

Short
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
charles.fletcher.us  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Chart Patterns S&P 500 (SPX500) spyshort wedgebreakout
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chartpattern spx500 spyshort wedgebreakout
Back and forth action as we digest the machinations of the oil market, and some slight weakness mid-day today with news that Gilead's remdesivir flops in first trial. It's interesting to see the broken wedge acting as resistance, but the 20-moving average on the day is acting as support. Still watching to see how this plays out, with a bearish bias.
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