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SPDR S&P 500 ETF TRUST
Long

SPY $213.21: 3.5-month rising triangle breakout projects higher

76
SPY broke out of the 3.5-month rising triangle resistance (linking 212.24/212.48, as shown on the 240-minute chart) to confirm the long term uptrend continuation and open new targets at 217.05 ahead of 218.50. The immediate support lies at 211.86 (May 15, 2015 low). Below rests the stronger 208.63 support (May 12, 2015 minor higher low).
Outlook:
Short term: bullish
Long term: bullish

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SPDR S&P 500 ETF (SPY)

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SPDR S&P 500 ETF (SPY)
novvoll12
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Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.