S&P in Bullish Continuation Pattern

Since Friday's recovery rally high at 143.81, the S&P 500 SPDRs (AMEX: SPY) have carved-out what looks like a sideways, coil-like congestion area between 143.60/80 and 142.30/15, which I regard as a bullish continuation pattern that when complete should propel the price structure towards the 145.00 next target zone. Only a sustained break below 142 will begin to compromise the still bullish technical set-up.
  • 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!