$SPY Chart: Some Institutional Investor Opposition is Starting to Appear

By: Marty Chenard | Fri, Apr 24, 2015
Print Email

Today's chart that is posted below shows the SPY as of yesterday's close.

I have to tell you that while the SPY's chart is looking good, some Institutional Investor opposition is starting to appear. I don't think there were enough taking this stance yesterday, but it is still a concern.

On to today's chart ...

On the chart, there are thick red and black lines that outline two triangular patterns. The close on the SPY yesterday was above the upper triangle's top resistance line.

Yesterday's tick was strong and trending higher. So the Fed is happy, while some Institutional Investors weren't as happy.

SPY Chart

 


 

Marty Chenard

Author: Marty Chenard

Marty Chenard
StockTiming.com
Asheville, NC 28805
Tel: 828-296-1200

Marty Chenard is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools and stock market models. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker.

StockTiming.com is dedicated to Stock Market Investors who want the best information on stock charts, stock market trends, stock market timing and technical analysis.

Be My Guest and Take Advantage of Our Free Membership ... Get a Free Membership to StockTiming.com ... Youll receive important daily messages before the market opens and direct links to todays important web pages. Information and messages that are often not posted on our website. There is no obligation or expectation on our part ... it is just our way of proving our accuracy and timing expertise to you. Please click here for your Free Membership.

Copyright © 2006-2017 Marty Chenard

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com