Don't Ignore This Chart!

SPY hits channel support


After a sharp decline on Friday and further weakness early Monday, the S&P 500 ETF (SPY) recovered and managed to firm at the Raff Regression Channel. This channel defines the current advance and a break below would call for a re-evaluation of this uptrend.

100419spydd Click this image for a live chart.

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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