S&P 500 Monthly: Two bearish reversal patterns in place?
1st bearish reversal pattern: Island reversal pattern evidenced on the Daily chart this week (June 04 to 10).
-'Island' created with the gap up on June 4th and gap lower on June 10th, leaving the 'island' behind.
2nd bearish reversal pattern: Bearish reversal bar evidenced on the Weekly chart close this week over last week.
- Traded higher than last weeks high and lower than last weeks low, closing below last weeks close.
Bulls may be on the defensive here.
As always, the market is the final arbitor ... Mind the gaps!
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