spx update - pennant pattern
The S&P seems to be holding and the bulls winning the race yet again as we keep hinting ;-) no reason to fall in the love with the downside so far. But I guess anything is possible.
Right now the pennant pattern on the S&P was broken out, which takes a bullish stance, and hitting new highs. Normally everytime the market hit new highs we did turn down a bit. But pennant patterns are seen as stronger bullish type patterns with higher targets.
I keep seeing many traders writing off the bulls, however we keep going higher on the market. Anyone else seeing a pattern there?
|spx update - pennant patterns|
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