devicemxl
Short

SPX ascending broadening wedge pattern

INDEX:SPX   S&P 500 Index
the SPX             is close to overload, its simple to see at RSI and stoch . But i see the possibility of the formation of an ascending broadening wedge pattern. If correct, the idea is as clear a prolonged downtrend and the levels, still a little fuzzy I think that would be:

  • Target 1: 1950
  • Target 2: 1850
  • Target 3: 1750
  • Target 4: 1700

it seems bird of ill omen

comments, suggestions, corrections:
They are always welcome
Trade active: The reaction level was more high than the expected, but the price is weakening, maybe this year we have a santa's micro rally.
Nonetheless the pattern is confirmed by the apparition of a ascending wedge.

good luck
Comment: The ascending broadening wedge works, and then now meaby are in the same situation, close to the cliff.
Do you have a way to measure the time/ approx. date, for possible Target1,2,3,4?
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devicemxl greenplay
that is the question, as the first objective is the resistance line and you can see that the test this week and the following objectives would be only if the pattern holds, and the last would be an extreme case like in 2012 or more. If you do not follow him, he would be testing the 1850 maximum again. The index followed a similar pattern in April or May (can not remember the exact date) in 2012, only less intense.

As I have seen seasonally in the last 10 years in the second week of November bottoms (October 7). I have some pictures of seasonal chart. so I think that possibly the lowest point display from 6 to 13 November. other years 2009 could be even until late November.

What seems safe after this a raly until Christmas

plus.google.com/103677166242688345460/collection/Ym2iFB
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devicemxl devicemxl
not october 7, is 7 of 10
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