JamesEvison
Short

S & P 500 - Triple top forming at 2800 Psych level resistance...

SP:SPX   S&P 500 Index
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- SPX looks to be forming a triple top pattern
- Characterised by three highs forming at roughly the same level with roughly equal spacing
- This pattern is inherently bearish
- It indicates that buyers tried to push price up to/ break through a level three times in a row and failed to break through each time as sellers took control
- All three tops occurred at the 2800 Psychological level
- The neckline of this pattern is found @ 2630
- If price were to break/close below this level on a 4H/Daily basis this would justify entering a short position
- If price were to break through the triple top patterns resistance found at 2800 this would invalidate the pattern

THIS IS NOT TRADE ADVICE NOR A TRADE CALL
Comment: LARGE gap down on market open
Could be pre-warning of a near-term bearish breakdown
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