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Spain Credit Outlook Cut To Negative As Rotting Debt Continues To Erode Global Powers

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

Since yesterday morning, a channel had been forming on the SPY 10 minute chart.  It was a nice downward channel that continued to bounce off the lower channel trendline and then hit the upper.  These patterns break to the upside about 90% of the time and can be used as a great trading method for making money.  The key is to understand that once the break is made, the technicals signal a move and traders pile on the trade.  This send it spiking higher like the below example.  Learn the channel patterns and make money.