Technical Outlook: A significant technical breakdown played out yesterday on the S&P 500 (SPX) with price breaking down and below major long-term support at 2120. Bear flag was also confirmed by yesterday’s price move. Volume saw a notable uptick yesterday as well on SPDRs S&P 500 Trust (SPY) with volume well above recent averages. In the past, SPX
Some people haven’t quite shared the same sentiment about the current pattern developing on the S&P 500 (SPX) as me. Granted, it is tough to make out on the daily chart, but I’ve gone ahead and drilled down to the 30 minute chart to show you the head and shoulders pattern the market is
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