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monkreet

S&P 500 Downwards Sloping Failed W-Bottom

S&P 500 Index (SP:SPX)  
monkreet Updated   
SP:SPX   S&P 500 Index
Trend Analysis Technical Indicators sp500index SPX (S&P 500 Index) S&P 500 (SPX500) index indexes
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trendanalysis indicator sp500index spx spx500 index indexes
1. A Reaction Low formed and Broke Through the Lower Bollinger Band.
2. Price Moved Back around around SMA (Middle Line) and Failed to Test or Exceed it.
3. A Second Drop in Price Created a New Low.
4. A Weak Move Brought Price Towards the Middle Band (SMA) and Failed Exceed it - and was Rejected There, at Resistance.
Comment:
Note! Momentum is to The Upside. So we can still find Support and Break Through the Middle and Upper Bollinger Bands. -
Comment:
A Hold of of 3374.60 is what i would like to See.
Comment:
But i Think the Probability is we find Support, Test the Upper Bollinger Bands and go Lower to test other levels. or we Fail to Find Support here and test Lower
Comment:
Creating another New Low
Comment:
Lower than the Last and Another New High Lower than the Last.
Comment:
Confirmed
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