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Jun 14, 2021 11:47 AM

S&P500 Developing a Bearish Crab Pattern Short

TVC:SPX240
S&P 500 IndexTVC

Description

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The S&P 500 index is currently developing a Bearish Crab pattern, which represents a classic reversal pattern.

Bears can sell at the peak of the pattern in anticipation of a correction to one of the three Fibonacci retracement levels.
FibonacciCrabSupport and ResistanceS&P 500 (SPX500)SPX (S&P 500 Index)Fibonacci RetracementBearish Patternsreversalcorrection
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