$SPY possible breakout from asymmetrical triangle

Long

SPDR S&P 500 ETF TRUST (BATS:SPY)

Updated

BATS:SPY SPDR S&P 500 ETF TRUST

Chart Patterns Triangle

chartpattern triangle

SPY is currently testing the upper falling trend line of the asymmetrical triangle

snapshot

If the retest succeeds and the breakout is confirmed, then a year-end rally in the stock markets including new

SPY highs is likely

NKE is already one step ahead and the breakout seems to have been successful

snapshot

Comment:

Very nice breakout. Asymmetrical triangle is a very strong formation.

snapshot

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