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Tuesday, April 21, 2015 4:16:18 PM
The SPY P&F Chart Demarcates Bull-Bear Battle Lines
By MPTrader
* April 21, 2015
From a Point & Figure chart perspective, the SPY is range-bound between 207.25/00 on the low side and 211-212 on high side.
In that the upper boundary represents a substantial triple high, a SPY climb first above 211.25 (211.50 print), and then above 212.00 (212.25 print), will trigger a very powerful, projected, upside follow-through to 217-219.
Conversely, a decline that prints 207.00 will break a nearer-term quintuple low that will trigger downside continuation to test the substantial support clustered around 204.75- 204.00.
At present, although the SPY remains confined within the sideways range, it continues to exert upward pressure on the triple high.
https://www.mptrader.com/middayminute/
George.
By MPTrader
* April 21, 2015
From a Point & Figure chart perspective, the SPY is range-bound between 207.25/00 on the low side and 211-212 on high side.
In that the upper boundary represents a substantial triple high, a SPY climb first above 211.25 (211.50 print), and then above 212.00 (212.25 print), will trigger a very powerful, projected, upside follow-through to 217-219.
Conversely, a decline that prints 207.00 will break a nearer-term quintuple low that will trigger downside continuation to test the substantial support clustered around 204.75- 204.00.
At present, although the SPY remains confined within the sideways range, it continues to exert upward pressure on the triple high.
https://www.mptrader.com/middayminute/
George.
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
gtsourdinis
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