Today the S&P 500 opened lower but has since bounced back to even on the day. Since price broke out of the Ascending Triangle Formation on 1/3/12 the S&P has continued to drift higher. From a Technical Analysis perspective, the long term ramifications of this pattern breakout gives a projected price target of around $138 [...]
Read More...The S&P 500 is nearly flat on the day after moving lower at the beginning of the session. If price action holds, then the lower move earlier in the day will leave what’s known in Candlestick Analysis as a long lower shadow. This lower shadow in the presence of an uptrend forms what is known [...]
Read More...Yesterdays price action on the S&P 500 broke above a chart pattern known as an Ascending Triangle. Is this this now going to be the new direction of the market? We’ve been looking at the Technical Analysis of this market for the past 4-6 weeks and detailing how we expect price to break one way [...]
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