Stock Market Alert: Inverse Head And Shoulder

The markets are at a pivotal point today. As of now, there is a beautiful inverse head and shoulder pattern on the intra day SPDR S&P 500 ETF SPY chart. This can be seen on the chart below. An inverse head and shoulders pattern is a bullish pattern should it be triggered. To trigger, the pattern must break the neckline to the upside. This would set off a move higher with a target on the SPY of $130.00 near term, most likely this week. The SPY is having a solid up day, trading at $127.82, +0.76 (+0.60%). A move over $128.00 would begin trigger this bullish pattern. The SPDR Dow Jones Industrial Average ETF DIA is trading at $120.59, 0.85 (+0.71%) and the PowerShares QQQ Trust, Series 1 ETF QQQ is trading at $54.13, +0.34 (+0.63%). The QQQ was triggered as a long swing trade on Friday at a price of $53.85 inside the Research Center. In addition, other positions making money for Research Center members are Morgan Stanley MS and General Electric Company GE. Gareth Soloway InTheMoneyStocks.com