A Wedge Break from SPX is a FOMC Trap

SP:SPX   S&P 500 Index
361 4 7
If we were looking at technicals alone, the S&P 500             nudged the upper end of the consolidation pattern over the past three weeks. If there were no major fundamental hiccups ahead, it would be a good signal. The problem is the fundamental seas are looking rougher than what this technical pattern is capable of navigating. I'll wait until after the Fed decision to judge the equity index's next move...
Technical point of view, I see a BEAR PENANT with a starting BEAR FLAG at the end, No need to go to fundamentals.
+1 Reply
Ruien fishin
I think the point is that any technical setup could be a trap before an event which would render the signal irrelevant. I also view this as a bearish setup, but an FOMC statement could still blow it away - thus, fundamentals can't be ignored here regardless of direction.
Agree to that.... its a bearish pattern as seen via SPY.

The volume is getting lower...
Always go to the fundamentals. Fundamentals are what traders and investors use to determine what price should be paid. Technicals alone is blind trading.
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out