Today the buying pressure broke out above several tops. This pattern goes back to February 2015. Today's buying pressure broke through the horizontal red line connecting highs from February 2015, October 2015 & February 2016.
Other break outs were noted by red horizontal lines, a green circle at the break out, a yellow vertical line showing where the SPY was at the break out & a green arrow showing the subsequent move in the SPY after the break out.
In each of the prior three break outs the SPY went up each time before a pullback or correction. Note that this chart only goes back to January 2014 and there are no other examples shown here prior to that date.
Keep following JustSignals using Twitter, @StockTwits or Follow By Email.
Just submit your email address in the box on the Blog homepageThis has been posted for Educational Purposes Only. Do your own work and consult with Professionals before making any investment decisions.
Past performance is not indicative of future results
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.