Dr_Roboto

S&P 500 Trading Channels & S/R levels

Dr_Roboto Updated   
SP:SPX   S&P 500 Index
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.

Comment:
I forgot to add the 50 and 200 day MA.
Comment:
Comment:
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.