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Rant & Rave Blog

Classic Trend Line Top Alerted In The Charts: S&P

Posted by Gareth Soloway Wednesday, March 16, 2016, 03:19PM ET

Read 893 times

The $SPY ran higher on the back of a dovish FOMC policy statement. As the markets spiked, they hit the key level shown below.

 

Notice how there is a trend line that connects all the recent highs exactly to this point. This is truly a classic example of why learning how to use and implement trend lines is so important. Note the chart...

 

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Gareth Soloway

Chief Market Strategist

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