Chart Patterns Still Look Good

“Volatility is greatest at turning points, diminishing as a new trend becomes established.” George Soros

Stocks were a bit volatile today, especially when more worries about DB surfaced in the afternoon but we recovered pretty well into the close.

Chart patterns still look set for a continuation of the strength we’ve seen, for now.

(Click on image to enlarge)

SPY either has a triangle which is bullish, or a rising channel which is bearish.

I’m giving more weight to the triangle.

Above 216 is good while under 214 isn’t.