The S&P 500 Index ($SPX) has developed several major technical patterns over the last few months that many traders will be watching closely in the weeks to come. Important directional clues could be revealed by these patterns ahead. Take a look..
The S&P 500 has been winding up the last two months in anticipation of a larger breakout move. Well, the time has come. While a breakout in any direction could be huge, two major technical patterns indicate the breakout will be to the upside. Here’s why…
Last week, I wrote about the 1,000-point triangle pattern in the Dow Jones Industrial Average, which finally went into full “breakout mode” late in the week. The S&P 500 Index (SPX) is getting the initial break through the top of its triangle, too, which forecasts a move back to 1,200…but it might need a little help from the $VIX.
The market is clearly winding up for a major breakout opportunity, as evidenced by the 1,000 point triangle that’s building out in the $DJI. I’ve got three stocks to watch that are poised to move once direction is decided.
The Dow Jones Industrial Average has experienced a wide range of price movement over the last two months of trading. However, the index now seems to be coiling up for a major breakout that could pave the way for a 1,000 point move. Here’s why..
