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aaronsmth5
Mar 27, 2021 11:57 AM

SPY Megaphone and Rising Wedge. Proceed with Caution ⚠️ 

SPDR S&P 500 ETF TRUSTArca

Description

One of the hallmarks of the dot com bubble was the megaphone topping patterns across much of tech. This pattern is very hard to trade and typically very volatile.

On top of that we have a huge rising wedge dating back about 1 year. A break to the downside of the red rising wedge and I am targeting $320.

Bearish RSI divergence has continued since 2018. This looks like it could get ugly and fast.

Not financial advice. Just for fun.
Comments
samitrading
So by the end of April resolution must be made up/down "Converging Red lines"
aaronsmth5
@samitrading, we shall see, I'm thinking break to the downside in april then push back up in the megaphone
sagarkasukurthy
Can you post the whole chart?
shkspr
@sagarkasukurthy, drag the timeline
aaronsmth5
@shkspr, thank you, I posted this from my phone and it didn't turn out the greatest
shkspr
@aaronsmth5, that's fine, no worries
sagarkasukurthy
@shkspr i dunno I'm unable to drag it.. I'm using the android app.. I'll check it out when i get to a pc
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