S&P Approaching Key Trend Line: Markets To Meet Major Resistance

The $SPY is quickly approaching a trend line shown in the chart below. Notice how it connects through all the highs extending back to the all-time high on the $SPY in May 2015. In other words, the markets are testing a level/trend line that began almost a year ago.

 

Truly epic and should cause a major battle between bulls & bears. The $SPY has rallied over 15% since the February 2016 lows in one of the biggest moves (in a short period) since the 1930’s.

 

Stock swing traders, look at this performance verified by a 3rd party – 100% transparency.

Gareth Soloway

Chief Market Strategist
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