🚨 Early alert on 
SPX
The S&P 500 just broke down from a rising wedge, a pattern that has historically marked the end of several bull legs in this index.
📊 In the image below you can see:
In one case, the wedge resolved with only a -4% pullback before the uptrend resumed.
In the second one, the correction went much deeper at around -17% before stabilizing.
👉 A rising wedge is not automatically a BIG crash signal, but it is REAL a warning flag. Losing key supports could open the door to a larger correction, while a quick recovery would keep the broader bull structure intact.
⚠️ Stay vigilant, SPX has a history of respecting this pattern. This is just an early alert for you all!
I'll be sharing in my newsletter more about rising wedges soon, I'm seeing many of them and that could mean that the bull trend, at least, needs a pause.
SPXThe S&P 500 just broke down from a rising wedge, a pattern that has historically marked the end of several bull legs in this index.
📊 In the image below you can see:
In one case, the wedge resolved with only a -4% pullback before the uptrend resumed.
In the second one, the correction went much deeper at around -17% before stabilizing.
👉 A rising wedge is not automatically a BIG crash signal, but it is REAL a warning flag. Losing key supports could open the door to a larger correction, while a quick recovery would keep the broader bull structure intact.
⚠️ Stay vigilant, SPX has a history of respecting this pattern. This is just an early alert for you all!
I'll be sharing in my newsletter more about rising wedges soon, I'm seeing many of them and that could mean that the bull trend, at least, needs a pause.
⚡ Trading is not about luck or patience. Is about skills and knowledge. ⚡
I share my ideas, returns and knowledge here:
📚 👉 topchartpatterns.substack.com/subscribe 👈📚
🤝 Business contact: info@topchartpatterns.com
I share my ideas, returns and knowledge here:
📚 👉 topchartpatterns.substack.com/subscribe 👈📚
🤝 Business contact: info@topchartpatterns.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
⚡ Trading is not about luck or patience. Is about skills and knowledge. ⚡
I share my ideas, returns and knowledge here:
📚 👉 topchartpatterns.substack.com/subscribe 👈📚
🤝 Business contact: info@topchartpatterns.com
I share my ideas, returns and knowledge here:
📚 👉 topchartpatterns.substack.com/subscribe 👈📚
🤝 Business contact: info@topchartpatterns.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.