S&p 500 Index is right at its upward channel support. It has moneyflow divergence. We think it will decline Breaking the upward channel formation.
Break of upward channel will bring it down to a target of 2260.
Interestingly on the weekly farm SPX is in upward channel support, and break of that suggests a similar target.
LKQ seems forming a Head & shoulder formation, but its yet to break below its neck line. If it can break below $30, it will be a good shorting opportunity.
*Trade Criteria*
Date first found- February 9, 2017
Pattern/Why- Possible Head & shoulder formation
Entry Target Criteria- Break of $30
Target & Stoploss - TBA
(Note: Trade update is delayed here.)
