Spy Trend Channel

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

  1. Jumpshot

    Jumpshot

    Anyone notice this channel?

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  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

    Jumpshot

    Looks like price blew through the channel.

    [​IMG]

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  5. 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.