Tuesday, December 6, 2011

SPY Triangle

With everyone looking for something in this dull market, I'm sure this SPY triangle is visible.

 This would normally be taken as a downside continuation consolidation, but being it's so obvious, I'd watch for an upside breakout first as a likely head fake.

On the hourly "Demark" inspired indicator I created, we have our second sell signal in quite a while.

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