Hello everyone! Another TA on the S&P500. In my opinion I believe that the future is in a delema! after the two completed bear flags ( currently not marked out) the S&P has formed a cup and handle pattern ( bullish) after this pattern completes it will probably rise and try to break the resistance but so far this is a strong risistece hasn’t been broken to othe bull runs. If it fails to break again it confirms the down trend from the decending triangle. A more technical Analysis update (RSI and other indicators) will be added soon.
Act with caution and don’t forget to like and follow for more updates! If you want a stock charted msg me the ticker.
Comment
⋅
Pattern still holding not yet broken out to challenge risistence
Ye, and probably it looks more like the flag will finish, and when it happens maybe it will be a bullish trend.
KieranKelly
⋅
@Omar.resendezcr, i agree i think it will complete the decending triangle
omar.resendezcr
⋅
@KieranKelly, but now, why didnt fall? Is ther any accoumulation for bullish there?
KieranKelly
⋅
@Omar.resendezcr, it finished the day on a red candle the pattern is still in effect it hasn’t broken the handle risistence line down trend yet! It will go back up (from the successful cup and handle) and challenge the major risistence soon but for now it’s still in the handle down pattern and has no green candle yet.