SPY: Chart Patterns Still Look Good
Warren Bevan | Sep 30, 2016 01:23AM ET
"Volatility is greatest at turning points, diminishing as a new trend becomes established." George Soros
Stocks were a bit volatile today, especially when more worries about DB surfaced in the afternoon but we recovered pretty well into the close.
Chart patterns still look set for a continuation of the strength we’ve seen, for now.
SPDR S&P 500 (NYSE:SPY) either has a triangle which is bullish, or a rising channel which is bearish.
I’m giving more weight to the triangle.
Above 216 is good while under 214 isn’t.
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