The S&P 500 pushed through a clear resistance level last week and is now looking like a reversal is about to happen. Will it be the confirmation test?
Breakout and Test
The most orderly type of breakout is when price pushes through a level and then comes back to test it, thus confirm that the prior resistance is now a support level.
Right now the S&P 500 is setting up to possibly do that. The reason I say it is setting up is because a bearish u-turn pattern has just formed. Anyone who reads my posts knows that u-turns are my favorite reversal
Is the Stock Market About to Confirm a Breakout???
March 19, 2019
Published by timm
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