SP500 - Relentless Bull Channel

Feb 12, 2021

SP500 DAILY - [this channel is relentless] - and where are targets above. There are 2 MM targets above - the channel had a dip out but is still valid.. now we are at the midline which has held prices for months.. Notice that often when a channel breaks out and the break out fails, the trapping of aggressive breakout traders will give a continuation momentum with the trend - such that you get an overshoot to the other side of the channel. In this case we may NOT go to the other side, but may break above the midline.. The last 3 days have been DOJIs right at the midpoint so the market is deciding here if we get another leg up on the D chart.

'Trade what the market is telling you.. not what you think ;) '

Feb 28, 2021

Note

updated chart on a lower TF, more zoomed in view for the week ahead.. 2 scenarios to watch for with a breakout of the current range..