SPDR S&P 500 (SPY)

[learningboutinv]

Foot, I know you don't read posts unless directed to you so I was wondering what you thought of this diamond pattern. I've been looking the charts over for the past hour and the only pattern that jumps out at me is a diamond in the sky for the $NDX. We just have to get below 1963, 200dma. On the daily time frame, we are still on a hold short but barely. The downtrend line is going to be violated if we go up any higher!

"2xer, I've been looking things over for the past hour. You could be right. Also, it's the Time of Month, window dressing, 401K stuff, holiday with the uninformed. I'm thinking top tomorrow, with a neg. close, and then like you said down through FOMC and possibly back up and then down big? Is this a bearish diamond pattern forming? If I call enough patterns may be one will hit. LOL..."

BTW - I still think that 1850 gap looks might inviting.