S&P 500 forms diamond top pattern, good to sell on rallies

FX:SPX500   S&P 500 Index
367 0 3
Pattern formed –Diamond Formation

Major intraday resistance – 2085 ( trend line joining 2106 and 2096)

S&P 500             has broken major support (diamond formation) level around 2050 and declined till 2035. The index has recovered till 2079 and it is currently trading around 2050. Short term trend is still weak as long as resistance 2085 holds.

Any break below diamond formation confirms minor weakness , a decline till 2020/2000 is possible .

On the higher side any break above 2085 will take the index till 2096/2106 level.

It is good to sell on rallies around 2060-65 with SL around 2085 for the TP of 2025/2003
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
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 Screener Crypto Screener 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