• 2 hours Alibaba-Backed Tesla Competitor Set To IPO In The U.S.
  • 4 hours Emerging Economies Could Get Left Behind In Race For COVID Vaccine
  • 20 hours Dead Malls Could Be Amazon’s Next Target
  • 1 day Unpacking Biden's Energy Plan
  • 1 day Russia Aims To Become World's Top Gold Producer
  • 2 days Global Tech Stocks On Edge Over Trump TikTok Ban
  • 2 days Cobalt Squeeze Threatens The Electric Vehicle Boom
  • 3 days COVID Has Sparked A Surge In Cybercrime
  • 3 days Precious Metals Bulls Still Have Plenty Of Room To Run
  • 4 days The U.S. Has The Tech To Go Green, But Will It Use It?
  • 4 days Massive Losses Force Russian Commodities Giant To Slash Dividends
  • 5 days Markets Up On Stimulus Hope
  • 5 days UK To Invest In Europe's First Geothermal Lithium Recovery Plant
  • 6 days TikTok Takes Center Stage In US-China Tech War
  • 6 days Are Semiconductor Stocks Overvalued?
  • 7 days Jobs Report Doesn’t Say Much Amid COVID Uncertainty
  • 7 days Crypto FOMO Heats Up As Bitcoin Climbs Above $11,000
  • 8 days Aluminum Is Bouncing Back In China
  • 8 days The Deep-Sea Mining Debate
  • 9 days Markets Trending Down Despite Tech Blow-Out
How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

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…

Contact Author

  1. Home
  2. Markets
  3. Other

Is the SPY Getting Into Blow-Out Territory?

The chart below shows the Weekly SPY going back to 2008.

Alan Greenspan expressed it well when he said the "best bang for the buck is a rising stock market" ... and so it has been. What about the natural ebb and flow economic cycles that we have seen in the past?

Note the pattern that the Weekly SPY chart is showing below. The pattern is called a rising wedge because it becomes narrower as the market moves higher. This pattern keeps moving up ... until it fatigues and breaks to the downside. This particular pattern historically has had sharp down moves when the pattern finally ends.

Weekly SPY 2009 to now

 

Back to homepage

Leave a comment

Leave a comment