Interesting Formation

30 août 2013

Interesting to find these three major trend lines intersecting at this point in time on a log scale monthly SPX chart. For some reason I feel this intersection is significant notwithstanding the fact that we poked through the upper portion of the formation. I have a small SPY short position on right now even through I do not usually trade in the opposite direction of the market, more of a speculative play just for fun...