What Has Been the SPY's Pattern During the Past 5 Years?
Stock-Markets / Stock Markets 2015 Feb 09, 2015 - 06:02 PM GMTBy: Marty_Chenard
This chart shows the SPY's action since 1995.
What can be seen on this chart?
First, is that the SPY has made a higher/high.
Second, is that the current move since 2009 has been a "rising wedge pattern". Note what happens on a rising wedge pattern ... the resistance and support lines converge on each other while putting a squeeze on the underlying equity. The ticks have a smaller range of travel until the underlying equity has a break out which is typically to the downside, so be very careful.
By Marty Chenard
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Marty Chenard is the Author and Teacher of two Seminar Courses on "Advanced Technical Analysis Investing", Mr. Chenard has been investing for over 30 years. In 2001 when the NASDAQ dropped 24.5%, his personal investment performance for the year was a gain of 57.428%. He is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker.
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