Always consider hidden risks
SPY ETF Technicals: Resistance Trendlines Ahead?
​April 04 2016 ( From Tradeview, Stockcharts )
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​​​​The Situation

​We have been in one of the most Bullish Stock Market in history
​since 2009.​ The Mighty SP500 Index (SPY ETF in our case) went
​from a low in March 2009 ​of 67.10 to the high ever on May 2015 at
​213.78, so rose by a factor ​of 3.2 spurred by low interest rates and
​strong buybacks ​from US corporations.

​​​​But in fact, since the peak made on May 20 2015 at 213.78 on the
​SPY ETF, we are into a lower highs and lower ​lows technical
​pattern ​in a multiple down steps...
​​(See 1rst Chart Below - Thick Red Trendline)

​​And we made almost a double bottom technical pattern (January 20
2016 and February 11 2016 to painfully climb into a Steep Uptrend 
Channel on Low Volume.​ ​​(See 1rst Chart Below - Channel)

And now, not only we are testing the Fibonacci Retracement zone of .764% at 206.06 (From peak price on May 20 2015 to the Low price on January 20 2016) ( See 1rst Chart Below - Top Blue line - Ellipse ) , but we are also back at the previous August 2015 breakdown trendline (now resistance) that started back on December 16 2014.
(See 1rst Chart Below - Thick Amber Trendline - Ellipse)​.

​​Also, we are near another daily resistance trendline that started back since November 3 2015. To keep that lower highs and lower ​lows technical ​pattern, Bears need to keep SPY ETF below the December 2 2015 high of 211.00.  ​(See 1rst Chart Below - Thick Grey Trendline)​.

And finally, we have the Major Resistance Trendline that started back since the ultimate peak in price reached​ on May 20 2015. ​(See 1rst Chart Below - Thick Red Trendline)​.

​​​​But looking at the big picture (Monthly Candles Chart on SPY ETF) shows us the most interesting technical factor;  we are into a lower highs and lower ​lows technical ​pattern since May 2015 and now getting near the Resistance Zone on that Monthly Downward Channel... The best set up for Bulls is testing it in a strong Volume environment. The real battle for Bulls is there... (See 2nd Chart Below - Downward Channel)

 Louis Pasteur 
"Chance favors the prepared mind."

 SPY ETF Technicals: Resistance Trendlines Ahead? $SPY, $SPX   #Trading #Investing #SP500 #dxy

​SP500 (SPY ETF)
Monthly Candles Chart

Dailly Chart - Candles
​​20 DMA ( Yellow Line )
​50 DMA ( Red Line )​
200 DMA ( Green Line )​