Market Breaking Free
Finally! The market is breaking free – to the upside – from the Triangle Pattern.
Let’s chart the levels and possible outcomes here:
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First, be sure to read last Friday’s post “The End is Near for the S&P 500 (NYSEARCA:SPY) Triangle” – the end was today!
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Right on schedule and exactly as planned, price broke free from the multi-day consolidation (range) and moved into a price expansion swing.
The upside break triggered this morning and today’s session so far has been an expected range expansion (trend) move that continued to the upside, breaking price out of this lengthy range.