S&P Approaching Key Trend Line: Markets To Meet Ma

[CyRoca]

The $SPY is quickly approaching a trend line shown in the chart below. Notice how it connects through all the highs extending back to the all-time high on the $SPY in May 2015. In other words, the markets are testing a level/trend line that began almost a year ago.

Truly epic and should cause a major battle between bulls & bears. The $SPY has rallied over 15% since the February 2016 lows in one of the biggest moves (in a short period) since the 1930's.

[Danciz]

Today, the move is confirming as the index is declining. This came on the back of an explosive move known to traders and investors as a blow-off top (previous 2 weeks)

[DawsonwAk]

Ultimately, while timing is not Fed Chair Janet Yellen's forte, nor was it Greenspan's, it is important to take it as an important heads up. Combining their viewpoint and the charts could yield a significant shorting opportunity worth 30% or more.

[DonaldKi]

Just a couple months ago, Janet Yellen issued a warning that biotechnology may be in a bubble. Today, the iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) are 20% higher.