FractalTrader

Hidden consolidation

AMEX:SPY   SPDR S&P 500 ETF
41 0 1
Those looking only at bar or candle charts probably won't notice this pattern. This looks like a symmetrical consolidation pattern, and time will tell if this scenario continues to play out, as I suspect it may. I noticed a similar pattern back in early Feb (linked below).
I continue to think there are too many bears out there, and the risk charts I've been posting still aren't convincing me that investors are rotating to safety.
Ideas Scripts Chart
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