Mrpips

S&P 500 Weekly

SP:SPX   S&P 500 Index
23 0 0
Still has a bit of a Bull Flag look to it. I have adjusted the trend lines here though as the previous breakout did not evolve with supporting ADX momentum on the daily or weekly charts.
Comment: This still has a bit of a Bull Flag look to it although the weekly candle was only small and of an indecision-style ‘Spinning Top’ formation. Traders now need to watch the 2,135 level for any breakout or respect. Respect may signal a bearish ‘Double Top’:

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