• 863 days Will The ECB Continue To Hike Rates?
  • 864 days Forbes: Aramco Remains Largest Company In The Middle East
  • 865 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,265 days Could Crypto Overtake Traditional Investment?
  • 1,270 days Americans Still Quitting Jobs At Record Pace
  • 1,272 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,275 days Is The Dollar Too Strong?
  • 1,275 days Big Tech Disappoints Investors on Earnings Calls
  • 1,276 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,278 days China Is Quietly Trying To Distance Itself From Russia
  • 1,278 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,282 days Crypto Investors Won Big In 2021
  • 1,282 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,283 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,285 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,286 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,289 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,290 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,290 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,292 days Are NFTs About To Take Over Gaming?
readtheticker

readtheticker

readtheticker

We are financial market enthusiasts using methods expressed by the Gann, Hurst and Wyckoff with a few of our own proprietary tools. Readtheticker.com provides online…

Contact Author

  1. Home
  2. Markets
  3. Other

SP500, Classic Patterns Tend To Remain Classic and Correct

SP500, Classic Patterns Tend To Remain Classic and Correct

The SPY (SP500 Etf) monthly chart is showing a classic bearish pattern.

Rising prices with falling volume.

Any reader of the classic Edwards and Magee knows that this is not healthy, and it can end in many ways:

(1) Smash down or (2) trickle sideways or (3) another low volume rally (remind you of 1987 does it).

It does not mean tomorrow is crash Monday (knock on wood), but it does mean caution is warranted.

SPY Volume Waves

 

Back to homepage

Leave a comment

Leave a comment