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McG16

Will History Repeat?

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
McG16 Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Support and Resistance
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trendanalysis chartpattern supportandresistance
One of the most satisfying moments in charting is opening up an old chart tab to find S/R levels that really hit the spot. I believe these S/R lines were drawn in July before the SPY rally to 430. When I looked back at the chart, I saw something that looked familiar...

July

snapshot


Today

snapshot

I plan to use the top and bottom lines combined with volume for breakout trading. Good luck all.
Comment:
Played a quick call on the bounce at lower Support line. Quick in and out.
Will we see the precious patterns play out? Gap up to breakout?

 
Comment:
Today
snapshot
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