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DmitriMA

4,034 Posts.

247

16/04/24

09:53

Post #: 73362249
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Originally posted by DmitriMA: ↑

After last night, looks like the SP500 wants to head down to the bottom of the channel and fill the gap.
What we might see is a spike through the channel bound and then a close above it.

If it closes below it, then God help us all.
Just kidding. But it wouldn't be bullish.
(There are 3 more unfilled Gaps-up on this chart)

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Another way of looking at this is a breakdown from a Rising Wedge...

Downside target range indicated, coinciding with 100 day EMA
(roughly equivalent to 20 week EMA)
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0 Great analysis

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