The SPDR S&P 500 ETF
Trust (NYSEARCA:SPY) has a great intra-day bearish pattern
. While awesome, can and will it play out? The SPDR S&P 500 ETF
Trust is attempting to fall as you can see from the chart below. However, one of the cons is that the time of day is lunch. Lunch is notorious for light volume
which makes bearish
patterns extremely hard to play out. While the pattern is great and even has a time count, the odds are probably stacked against the SPDR S&P 500 ETF
Trust that a big fall will occur. On the off chance it does, it would tell a bigger tale of weakness in the market that would catch attention.
Chief Market Strategist