Tuesday, September 26, 2017

When This Line Breaks, Markets Sell Hard: SPDR S&P 500 ETF Trust

This channel on the chart of the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) shows traders and investors something amazing. It gives precise insight as to when the markets will break down. Please note how both trend lines are perfectly parallel to each other. To discover when a major break down is coming, simply look for the break below the channel. As soon as that happens, the market will sell sharply. Look for the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) to drop sharply following that break to a level of $188.50. The SPDR S&P 500 ETF Trust is trading at $191.78 currently.
Gareth Soloway
InTheMoneyStocks.com

 

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