imzeeshan

SPY getting ready for breakout

AMEX:SPY   SPDR S&P 500 ETF TRUST
SPY is trading in a wedge pattern on 5min & 15min chart and consolidation is in process at the 0.382 fibonacci level. A breakout to 280 on the upside and 270 on the downside based on volume is likely to happen within a few hours.
Oct 15
Comment: SPY transitioned from wedge to rising wedge (bearish) pattern.
270 looks more likely as volume continues to decline.



more on Rising Wedge pattern:
https://stockcharts.com/school/doku.php?...
Oct 15
Comment: Rising Wedge breakout downwards as expected.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out