The super rare megaphone pattern seems to be playing out on the S&P. Usually, this pattern signals reversal, often to the bearish side, with the 5th wave usually breaking out of the trend. If we break down, this could also cofirm a double top on the longer term, amplifying bearish momentum. A breakout above the upper, rising trendline signals new ATH on the S&P.
Very Revealing.
Merits further study closely....
Thank you.
THE_UNWIND
Bearborn
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Looks like we broke to the upside, but still struggling to properly break the ATH resistance, which could push it back into the trend. If it breaks ATH convincingly, the bulls are in charge.
Merits further study closely....
Thank you.
THE_UNWIND