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S&P 500 just went back to downtrend channel - Part 2

S&P 500 Index (SP:SPX)  
cryptovan168 Updated   
SP:SPX   S&P 500 Index
Trend Analysis Chart Patterns Wave Analysis snp500 SPX (S&P 500 Index) Rising Wedge
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trendanalysis chartpattern waveanalysis snp500 spx risingwedge
S&P 500 has gone up around 14% in less than a month.

From the 4hr chart, we could see that a rising wedge is forming.

Right now, S&P 500 is at resistance.

From what we know, rising wedges tend to break downwards, we could expect it to break downwards in the following days.

Disclaimer: This is not a financial/trading advice.

Part 1:
S&P 500 just went back to downtrend channel

cryptovan168
Comment:
snapshot

look for nearest support
Comment:
Update:

Bear pennant formed.

snapshot
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