Spy Trend Channel

[Jumpshot]

Anyone notice this channel?

 

[stockcapo]

Saw that as well. Don't really trade it. Use it more as a barometer but noticed it as well. Text book example. Good post.

 

[shamed trader]

I find that channels are great in hindsight.

 

[Jumpshot]

Looks like price blew through the channel.

 

[Mercor]

Quote from Jumpshot:

Looks like price blew through the channel.

What a classic breakout gap...textbook!!

 

[cybercash28]

After a breakout, stock/index tends to go back to the breaout point or trend line to test it again.

Look at the H&S pattern on DIA for example. DIA went below the shoulder line but went back up and blew thought shoulder line.