Descending Triangle forming on SPX500 as distribution piles up

FX:SPX500   S&P 500 Index
69 0 3
Over the past 2 months the S&P 500             has formed descending triangle with a support level between 2110 and 2100. As the triangle narrows, the distribution days have piled up once again. Price has lived below the 50dma for the past 20 trading days. The longer we live below the 50dma, the greater the chances we ultimately break to the downside. Caution is warranted while we continue to chop around. Personally, I wouldn't be the least bit surprised if we stick in this range until after the election for better or worse.
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