hdon94

Markets setting up for a fall?

SP:SPX   S&P 500 Index
111 0 1
In my opinion, the one year pattern swings of the S&P 500             have been to make lower lows and lower highs.
There have been two double bottom patterns and two recoveries within six months of each other.
Double bottom pattern #1 occurred last fall with a recovery (A) that peaked on 11/3 at 2116.48.
Double bottom pattern #2 occurred in Jan. and Feb. with a recovery (B) that peaked on 4/20 at 2111.05 and has been trending lower since.
The last candle is a bullish one white soldier candle which in my opinion tells me the market in the short term will reverse course and move higher at least up to resistance at the 2082 - 2084 level.
If we are unable to take out the April high of 2111.05, I will view that as a very bearish sign. If we can take out the April high and also the Nov. high, I will turn bullish .
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out