Bulls Clearly Consolidating, But the March upwards may continue!
This Up Trend Pitchfork Channel has been holding since October of 2011, ie since the last 3 years & never been broken. The Fib Levels shown inside the channel have been acting as support & resistance & has proved it's significance.
Until SPY breaks this channel decisively to the downside , The Bull trend is most likely to continue . As evident , all the negative news , & panic have been very well contained inside the channel & SO it Deserves the Utmost respect.
Only a Break out of this Channel can Lead to a decent correction !
Until SPY breaks this channel decisively to the downside , The Bull trend is most likely to continue . As evident , all the negative news , & panic have been very well contained inside the channel & SO it Deserves the Utmost respect.
Only a Break out of this Channel can Lead to a decent correction !