Spy Trend Channel

Discussion in 'ETFs' started by Jumpshot, Jul 14, 2009.

  1. Jumpshot


    Anyone notice this channel?

  2. Saw that as well. Don't really trade it. Use it more as a barometer but noticed it as well. Text book example. Good post.
  3. I find that channels are great in hindsight.
  4. Jumpshot


    Looks like price blew through the channel.


  5. Mercor


    What a classic breakout gap...textbook!!
  6. After a breakout, stock/index tends to go back to the breaout point or trend line to test it again.

    Look at the H&S pattern on DIA for example. DIA went below the shoulder line but went back up and blew thought shoulder line.