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Saturday, May 12, 2018

S & P - Breaking Out of the Descending Trendline on the Triangle Pattern is a Bullish Signal! Could it be a false break?

S&P - While breaking  above the ascending triangle pattern is a bullish signal  , but  the similiarity of the 2 trend cycle shown in the chart looks presents the possibility of a false break out. For the short term 2700 remains a good support and 2740 a strong resistance. Whatever the outcome, its better to watch and react to the unfolding price action!

All posts and charts are for educational and illustration purposes only

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