Chart Patterns Still Look Good
“Volatility is greatest at turning points, diminishing as a new trend becomes established.” George Soros
Stocks were a bit volatile today, especially when more worries about DB surfaced in the afternoon but we recovered pretty well into the close.
Chart patterns still look set for a continuation of the strength we’ve seen, for now.
(Click on image to enlarge)
SPY either has a triangle which is bullish, or a rising channel which is bearish.
I’m giving more weight to the triangle.
Above 216 is good while under 214 isn’t.