jthrasher

S&P analysis; bullish structure but at an inflection point

OANDA:SPX500USD   S&P 500 Index
We are right at a level here, which is the log .618 of the local range and also the neckline of that previous broadening formation that can be indicative of a major top. I think this will be the level to break and close to potentially take out the ATH in the coming days/weeks. The current daily, if it were to close as is, would look like a bearish hanging man but not jumping to any conclusions yet as we appear to be in macro bullish structure ( ascending triangle within larger ascending triangle )

More detailed analysis here
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