Top Formation in S&P (SPY)

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By Mike Paulenoff | Published 11/7/2007 | Stocks | Unrated

Top Formation in S&P

Notice the potentially massive top pattern that has formed on the S&P 500 Depository Receipts (SPY), which is in stark contrast to the still viable uptrend pattern evidenced by the Nasdaq 100 Trust Shares (QQQQ).

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.

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