therealhybrid

SPY breaks through the gates

AMEX:SPY   SPDR S&P 500 ETF TRUST
Welcome back traders! Straight to it here on the one hour chart of the SPY we can see that today it HAS broken into our blue box that's proven to be a strong resistance level for our chart here. I believe we can now see something along the lines of the orange pattern I drew up top or the bottom blue pattern could still be valid, either or because it now seems to be rejecting the bottom of the blue box. This blue box has shown to be determining of patterns since the chart has respected it for the past couple of bounces. So we'll keep an eye on that, as always, good luck & safe trading, till the next one!

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