S&P 500 - Repeat of Aug 27 - Sept 2 FOMO rally???
Updated
Will we see a repeat of the Aug 27 - Sept 2 rally? It has broken through all of the other resistance levels and trend lines . There are three left: 1) the bright green resistance trend line connecting the Feb and Sept highs, 2) the major fib level from the dot com bubble, and the 1.236 fib extension off the March low. All right around the same area. Watch these closely the next few days.
Are we going to see another morning gap up? That has been the only way this rally has made any real progress, but I see a descending triangle pattern, which is bearish. Is it going to try and close that gap first?
Are we going to see another morning gap up? That has been the only way this rally has made any real progress, but I see a descending triangle pattern, which is bearish. Is it going to try and close that gap first?
Comment
And there it was. Now I wonder what tomorrow will bring.
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