Andrews Pitchfork analysis of SPY 1 hour chart

18 апр. 2015 г.

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