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SPY: Descending Triangle

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SPDR S&P 500 ETF TRUST (AMEX:SPY)  
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AMEX:SPY   SPDR S&P 500 ETF TRUST
Descending Triangle SPDR S&P 500 ETF (SPY) S&P 500 (SPX500) sp500index
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descendingtriangle spy spx500 sp500index
Directly after breakout out of an ascedning wedge pattern, the SPY is not forming a descending triangle. This is a bearish formation that is corroborated by weak indications from RSI, MACD, and Stochastics

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