ucsgears

SPY "Its my chance for megaphone"

INDEX:SPX   S&P 500 Index
228 3 1
Earlier this year 2014. We had the Qs forming a falling megaphone. It did work wonderful there. While in a Megaphone pattern formation, FIBs and trend line needs to fill. Else we will face a push to one side.
DanV MOD
2 years ago
Agree that a megaphone pattern are normally seen at the bottom or top as they mark end of the move. In this case I thing since the Feb low we appear to have large rising wedge, ie ending pattern on larger scale. So it would be very interesting to how it unfolds. I have bearings bias on this
SP500 Bearish Outlook - Close to forming Generational Top
+1 Reply
Farbenspiel
2 years ago
What about the much bigger megaphone we see now, target ~ 1.700 or lower ?
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ucsgears PRO Farbenspiel
2 years ago
On a weekly chart (Longer term IMO) yes. The Setup that I pointed out, Has played out
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