claydoctor
Short

SPX500 PENNANT ALERT

FX:SPX500   S&P 500 Index
79 1 2
Pennant pattern does fit Bulkowski's rules. Measured rule takes us to 1733 level which was the rather significant feb 2014 low. Also, the long term trend line support is not far from that either, so if we overshoot, we go to there. RSI also shows we have much room to go lower from here. And with this weekend significant issues coming up, and sept 17th fomc, tension will mount, volatility up. The pennant is almost 70% filled, so that is an exit point fir sure.
http://thepatternsite.com/pennants.html
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