gowithetf

SPY - break out of downward channel to the upside?

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BATS:SPY   SPDR S&P 500 ETF TRUST
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We continued yesterday with our sideways trading within the bull flag . The candlestick pattern for yesterday is either a DOJI or Spinning Top , both are indecisive indicators. The longer this bull flag lasts the longer I see this as more of a consolidation area ready for a move up.

A bullish move would be a break of the downward channel to the upside. Additionally a move above the the January 7 high would be a stronger bullish breakout.

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