Finally, A SPY Point & Figure Breakout

After multiple attempts to break out of its sideways pattern, the SPDR S&P 500 (SPY) finally succeeded yesterday, hurdling 189.00/50, and printing a new high at 189.75.

The SPY has continued higher to a print of 190.25 so far this morning, but the confirmed upside breakout points to a minimum upside target of 193.00, and an outlier upside target of 197.50 to satisfy the upside objectives off of the large sideways "accumulation" zone.

While a print of 189.50 triggers a down column of Red O's, only a nosedive and print of 187.00 will wreck and reverse the current bull P&F signals.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!