Always consider hidden risks
SPY ETF: The Ultimate Technical Battle for Bulls?
​May 26 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 but quite near of challenging
the previous top at 210.92 made on April 20 2016...

​​(See 1rst Chart Below - Thick Amber Trendline - Ellipse)

​​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)

The SPY ETF is now at 15.6% from its bottom reached on February 11 ​2016, quite a strong rebound...

​​We are getting very close on a Daily basis of a Major Resistance Trendline that started back since the ultimate peak in price reached​ on May 20 2015. Bears need to keep SPY ETF below that Resistance Trendline dailywise.
 ​​(See 1rst Chart Below - Thick Amber Trendline - Ellipse)​.

​​​​​​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 in the next few trading sessions. The real technical battle for Bulls is here...
​ (See 2nd Chart Below - Downward Channel - Ellipse)

 Louis Pasteur 
"Chance favors the prepared mind."

SPY ETF: The Ultimate Technical Battle for Bulls? $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 )​