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SPY Testing Support In Rising Wedge

|Includes:SPDR S&P 500 Trust ETF (SPY)

The S&P is coming off a fantastic 2013 in which it pushed to new highs. Over the last five years, the SPY (S&P ETF) chart has formed a bearish wedge. The current pullback has SPY testing its rising support trendline, which is also around where the 200 day moving average currently resides.

(click to enlarge)SPY five year chartClick to enlarge

Stocks: SPY