OP has consolidated since January and held price levels above the $2.00 price range. The following factors present the bullish case presented in the measured move:
- Falling Price with falling volume suggests a lack of bearish momentum
- Inverted Head and Shoulder pattern is one of the highest probability structures in trading with around a 90% success rate....
Technical trading is about confluence of indicators to increase probability of trade success. In this case, there are several indicators pointing towards a reversal in the SPX; An oversold daily RSI, a weekly RSI approaching oversold territory, Bullish divergence forming on the daily RSI, a descending Megaphone Pattern (79% probability), and the strong support of...
