Andrews pitchfork analysis shows the current SPY trend. Following Andrews rules I expect a retrace to median line at 209.30+ with intermediate test of 20 Day MA and parallel median band at ~ 208.30. Clearing main Median line sets up attempt to touch top TARGET area. Failure at Hagopian line at ~206.50 (perhaps due to geo-political concerns) would invalidate current trend. Outlook is cautious positive but geo-political events could affect trend in short term
Short term target early 209.30 next week, 211+ and possible 212 test by end of month, early May. Fail at 207.20 and 206.50 due to Greece concerns would signify bear market
Short term target early 209.30 next week, 211+ and possible 212 test by end of month, early May. Fail at 207.20 and 206.50 due to Greece concerns would signify bear market
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.