SPDR S&P 500 (SPY): Looks like another IHS formed at bottom,...

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Re: nowwhat2 post# 211729

Thursday, 08/18/2016 12:50:49 PM

Thursday, August 18, 2016 12:50:49 PM

Looks like another IHS formed at bottom, watching to see if it can break above that 167.50 level.
Which is neckline of IHS, strong horizontal resistance, double bottom resistance line, and fib retrace level.

I don't think you can get a more substantial and legitimate resistance line/area.

Quite a bit going on in the daily chart. Added some notes and "crayon marks"

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