The first smaller Reverse Breakout Has materialised.
A second larger reverse can be seen on the daily with the third circle drawn on the cart indicating the second "shoulder area" of the larger formation I have identified, the neckline which has been tested has been well and truely breached.
The Breakout of formation has been confirmed also to the upside.
continues to make new highs in step with price action.
ALTHOUGH I remain on S&P 500 it's clearly overvalued and the rally irrational..
A a correction will be inevitable.
Get ready for shorting opportunities