SPY Breaks above triangle, suggests continuation higher!

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SPDR S&P 500 ETF TRUST (AMEX:SPY)

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AMEX:SPY SPDR S&P 500 ETF TRUST

trendanalysis chartpattern spy bullishbreakout doji

After Friday's strong session, SPY has broken above its triangle which suggests a continuation higher towards $286 high's from early Feb. This rally has been on relatively low volume so caution is necessary. Today's Doji candle is concerning but weekly charts look strong. Use options to take bullish bets in this type of markets where options are cheap and you can limit your risk with Call Debit Spreads. Example: SPY April 20 278/289 Call Vertical @ $386. See this trade here:

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Dagangan aktif:

Looking for a bounce higher off the trendline support & gap fill at 274.15 level.

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