LoLBeach

SPX - A&B lines are broken

SPCFD:SPX   S&P 500 Index
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1
- RSI not confirmed yet
- A&B lines are broken
- we may see some bear traps and multiple divergences between the marked levels

Comments

Very good analysis.
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LoLBeach The_Unwind
@The_Unwind, thank you Sir ! some of the elements I caught from you (spiced them up a bit)
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LoLBeach The_Unwind
@The_Unwind, i do have a question though: if a megaphone is broken on the upside side means a strong bull ??? my thoughts: considering though the megaphone pattern is still oriented down the bull might be a fake...
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The_Unwind LoLBeach
@LoLBeach,


Megaphone Breakouts are highly suspect. Often last gasp breakout, bought by the last remaining bulls.
You are correct. Pattern is bearish
Though they are rare, they are often followed by an "Island Reversal'"to the downside,
seen most frequently in the crude oil market, as a terminal move to the upside.
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LoLBeach The_Unwind
@The_Unwind, in this case @SviCapital is right that some folks pushed their luck to far in an unstructured way
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