SPY made a bull flag with decreasing volume

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

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AMEX:SPY SPDR S&P 500 ETF TRUST

Chart Patterns Trend Analysis

chartpattern trendanalysis

It will breakout to the upside with high probability and will re-test the Feb 02 high.

Komen:

Feb 13: On today's 5-minute chart: 1st up leg completed around 13:30 EST time. A bull flag formed and breakout at the final half hour with good volume.

Komen:

Feb 15: The trip to test the Feb 2nd high seems to be lack of momentum, took partial profit today just in case even if the market makes a lower higher and reverses down, this trade will still be profitable. Feb 2nd's high was climatic anyway.

Penafian

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