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SPY: Chart Patterns Still Look Good

Published 09/30/2016, 01:23 AM
Updated 07/09/2023, 06:31 AM

"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.

SPY September-30-2016 Daily Chart

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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