LiyouZhang
Long

SPY is poising to form a wedge. Could go higher after breakup.

AMEX:SPY   SPDR S&P 500
spy
56 0 0
spy
The big picture of domestic economy is gradually waking up. The expectation of GDP is increasing and unemployment situation is getting better. The sector rotation makes "safe harbour sectors" like utilities surge. There could be another round of rally before May when Fed is expected to announce to raise interest rate. SPY             is trying to make a wedge . Both candles and RSI are getting more and more narrow. SPY             could go higher after the wedge breaks up.
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