This bullish pattern will be tested when markets will open

$SPY managed to hold above support on a Volatile expiration day last Friday.
Both Bat pattern (blue) and the daily triple bottom patterns remained valid as the price closed above 185$
*notice that B point didn't touch the 50% - Not a perfect Bat pattern

Potential targets - 193$, 196$ and 200$ (re-test of broken trend line )
Stop loss - Should be at least below Friday's low

Tomer, The MarketZone
This analysis is part of the Weekly Markets Analysis newsletters
To read more interesting technical reviews for the week

To subscribe to the newsletters -
Follow my blog -
Subscribe to my Youtube channel -
I'm long from 1872, agreed.
Thanks. Call me crazy but I see opportunities in Energy sector.. Can be an interesting week, although I expect things to take some time as fear still dominates
+1 Reply
IvanLabrie PRO themarketzone
Same view...I'm glad we might appear crazy.
+1 Reply
If Iran/CL doesn't fuck us, I agree with this wholeheartedly.. fingers crossed this news was priced in, but I see a potential flash move early Tuesday. I'm long $XIV from 22s, bleh.
+1 Reply
That definitely would mark a classic retrace. However, S&P 1921 was the 20 month balance level (and 20 week) telling me the larger players have sold out that level and a large shift in trend is occurring; 1921 is a VERY strong inflection point. I am short/mid/long term bearish unless 1921 becomes support, if that happens, I agree with your target short term.
+1 Reply
themarketzone PRO smitheric1970
I agree it's a long way up with plenty of resistance levels on its way.
would be glad if it works ur way as a it would form a head and shoulders pattern and then a perfect shorting opportunity at fib level 61.8
+1 Reply
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out