Possibly a right shoulder forming on SPX500?
Looking at the weekly chart I see price bounced higher of the kumo.
On the daily chart, a possible bullish head and shoulder pattern is forming.
It looks to me that the neckline break and the kumo break could coincide.
My guess is that if the S&P 500 breaks above 2815 there will be a high probability price moves higher to make new highs.
See the weekly chart:
On the daily chart, a possible bullish head and shoulder pattern is forming.
It looks to me that the neckline break and the kumo break could coincide.
My guess is that if the S&P 500 breaks above 2815 there will be a high probability price moves higher to make new highs.
See the weekly chart:
Note
The right shoulder formed a bit lower, but has formed!Order cancelled
Brace for impact if we break below 2600.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.