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S&P 500, a "last gasp" leg higher?

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    S&P 500 (cash) near term outlook: Back in the Nov 19th email, said there was scope for at least another few weeks of ranging before resuming the upmove above that Nov 3rd high at 2116. The market has indeed chopped since, seen forming a triangle/pennant over that time. These are viewed as continuation patterns (wave 4 in the rally from the Aug 25th low at 1867), and with an eventual resumption of the gains above that 2116 high after (within wave 5, see "ideal" scenario in red on daily

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