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SPY: bullish (pitchfork analysis)

Long
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
TradersForecast Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Pitchforks SPDR S&P 500 ETF (SPY) S&P 500 (SPX500) SPX (S&P 500 Index) usmarkets usmarket
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pitchfork spy spx500 spx usmarkets usmarket
Both on weekly and monthly chart SPY reached a couple of pitchfork lines (in both cases a bottom one and a middle one) and is likely to bounce back up.
Comment:
SPY reached the next level down, again it's a good chance that it will bounce back up:
snapshot
Comment:
SPY did move up (to the next pitchfork line) and then fell back to the same line I encircled in my earlier note. See my new related idea for further commentary.
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