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The Only S&P500 Trend Line That Matters

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

Stocks are slightly negative on the day. Some believe the market is pausing before making new all time highs, while others are expecting a continued pull back. I am here to say that is all pure speculation based on nothing but simple minds guessing. When a pro looks at any market, he looks directly at the charts. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) has a major trend line that has held for over a month. When this trend line breaks, this market will dump 30-50 S&P 500 points.

Gareth Soloway