The S&P 500 60 day- 60 min chart is sporting a descending inverted Head and Shoulders pattern which appears have just completed the right shoulder.
What does this mean? Normally this is a bullish sign for the short term. So the 850-900 level is probable. But be aware that when the breakout fails it can be a violent swing to the down side.
How to trade- Using limited funds play the long side for the break higher, but only to load the heavy ammo short when tull run rolls over.
For the Web's best interactive charts, please visit http://www.Prophet.Net
No comments:
Post a Comment