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sep23

S&P Megaphone pattern

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SPDR S&P 500 ETF TRUST (AMEX:SPY)  
sep23  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Wedge market megaphonepattern SPDR S&P 500 ETF (SPY) spyshort trading swingtrading
3
4
trendanalysis chartpattern wedgepattern market megaphonepattern spy spyshort trading swingtrading
Seems like the current S&P market level is seeing the resolution of the megaphone pattern to the downside.
The break below the 3 point was the indication that the pattern is resolving to the short side and heading toward the targets indicated on the chart.
Something I'm not sure of is the bounce in late September; could this have negated this pattern?
Thoughts, comments?
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