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S&P 500 Index

S&P 500 Trading Channels & S/R levels

By Dr_Roboto
Updated
I just don't see this as the big breakout for a double top. The TA just does not seem to support it. There was a hidden trading channel in the chart that I discovered. The S&P was just so bullish it broke out and is just now returning to it. In addition, looking at the VIX and VVIX, both are not dropping like they normally would if this was a new bull rally. Yes, I see that it broke the falling wedge in the chart, but this may just be a case of it pushing it sideways a little. The major resistance levels are still down there a ways.

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I forgot to add the 50 and 200 day MA.
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Chart PatternsDJINASDAQ 100 CFDSPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) Trend Analysis
Dr_Roboto

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