The StockTwits Charts Stream gets filled daily with thousands of stock charts created by the largest real-time trading community in the world. Below are a few notable ones for your perusal:
1. S&P 500 ETF (SPY) – Major tops are a process and on StockTwits, @MaxxPayme chalks a potential bearish scenario for equities. Even if you are bullish, this pattern bares watching over the coming days and weeks.
Note on his chart below the rounded top forming in the S&P 500 ETF.
Maxx notes the gap support between 165.76 and 166.50. The theory goes, a break of the 165.50 area will confirm this top and presage even lower prices.
Momentum traders hold that strength begets strength and you can see this playing out on this one. Next stop the 100 roll…
3. The Walt Disney Company (DIS) – Lastly, @theoddlotter posted a chart showing the breakdown in shares of Walt Disney. The stock failed to hold the rising trend line in the symmetrical triangle formation. The price target is $57, which is just below the 50-day moving average where he will actually look for a value oriented buying opportunity at these lower levels.