King of the Midlines

a close look at an important pattern

Let's take a look at the biggest, oldest, and most important ETF on the planet: the SPY. In particular, there is an ascending channel on the SPY that goes back a full sixteen years (!!!) whose midline is, I believe, quite potent.

Over the course of 2024, the SPY has spent the majority of its time beneath the midline, with a couple of brief exceptions (in…