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HouseOfTrades

SPY, What now?

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SPDR S&P 500 ETF TRUST (AMEX:SPY)  
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AMEX:SPY   SPDR S&P 500 ETF TRUST
Chart Patterns Trend Analysis Technical Indicators SPDR S&P 500 ETF (SPY) Indices breakout Support and Resistance Stocks
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chartpattern trendanalysis indicator spy indices breakout supportandresistance stocks
After a possible fake breakdown (Feb lows) Spy rallied over 10 points off FOMC today.

It is right now basing below 429.15 / 430 which is a VERY strong resistance. This level has been tested already 4x.

I would like to see some consolidation, preferably a flag/channel, and then another push towards this level . I believe now it will break and we can see 432.

For that to happen, it is important we do not trade lower than 425/424.50

Kommentera:
Next support level is around 420
Lets see if we get a reaction here
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