Tuesday, November 3, 2009

Upward Channel for SPY

As long as we maintain this upward channel (see figure 1.), I will maintain my bullish stance on the day. If it breaks down, I will rethink things as a result of the new weakness.










Figure 1. SPY Upward Channel

Posted by Verde at 10:49 AM

1 comment:

  1. VerdeNovember 4, 2009 at 2:02 AM

    I interpreted the wrong channel here. It was actually a gentler sloping channel than the one I mapped out on the Chart

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