Auf geht's
SJ_CAP

$422.0 by May 11 - Long Spy

Long
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
SJ_CAP  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Technical Indicators SPDR S&P 500 ETF (SPY) LONG sjcap Technical Analysis longentry entry MAY market snp500
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trendanalysis chartpattern indicator spy long sjcap technicalanalysis longentry entry may market snp500
SPY is currently forming a common W pattern, which occurs more often in the midst of a bear market or a transitory stage of the market. Its also currently trading within a wedge on the hourly chart pictured below.

snapshot

See also the 15 minute chart, and the wedge it may break soon.

snapshot

The chart indicates multiple bullish influences, and I will be long SPY this upcoming week.

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