SPY getting ready for breakout

2018년 10월 15일

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.

2018년 10월 15일

노트

SPY transitioned from wedge to rising wedge (bearish) pattern.
270 looks more likely as volume continues to decline.




more on Rising Wedge pattern:
stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:rising_wedge_reversal

2018년 10월 15일

노트

Rising Wedge breakout downwards as expected.