"No warning can save people determined to grow suddently rich" - Lord Overstone

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Marty Chenard

Marty Chenard

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…

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What Has Been the SPY's Pattern During the Past 5 Years?

This chart shows the SPY's action since 1995.

What can be seen on this chart?

First, is that the SPY has made a higher/high.

Second, is that the current move since 2009 has been a "rising wedge pattern". Note what happens on a rising wedge pattern ... the resistance and support lines converge on each other while putting a squeeze on the underlying equity. The ticks have a smaller range of travel until the underlying equity has a break out which is typically to the downside, so be very careful.

Weekly SPY Chart: 1995 to Now

 

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