Ascending Triangle .....are continuation consulidation patterns..I always buy the "E" ....with a stop under the "C"....a good E will rairly retrace all the way to the A-C trend line......This break out has the potential to be very explosive to the up side.
1. Most Bears are heavy short expecting a big down correction...but corrections can be sidways ie: time ....
spy has had 2 time corrections .. the month of May and the first 10 days of June...
2. The Dollar is showing more weakness . This is good for Equities and commodities.
3. Mutual Funds must speng the next 20 days Window Dressing their portfolios ....they will buy any brand name that has outpreformed in past 3 months even if the fundamentals are bad......and they will sell anything that has underpreformed even if the fundamentals look good....
4. SPY is at the 200ma ....any clean break above and hold for a week is very bullish...
5. Shorts are forced to buy back their shares at higher prices which adds rocket fuel to the fire.....
The price target could be 100 to 105
This could be the interesting....
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