Bitcoin_Altcoin
Short

HEAD AND SHOULDER ON SPX500 NOW INTO BEAR MARKET TERRITORY

FX:SPX500   S&P 500 index of US listed shares
154 0 3
The price action today took us bellow the neckline of this large head and shoulder formation at 1850. A similar pattern was seen before the bear market in 2007-2008 and other major price reversals. The Head and Shoulders formation is a very reliable signal of a market reversal. I think we are now moving into a major market reversal and bear market that could last 6-18 months. Initial target is the 1600-1500 rang from the support of the 2008 top and 2013 rally. However if that does not hold we could easily be going back to 1200-1100.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out