This trendline in SP500 would be a cause to pause before getting bulled up. A test of the underside of the line seems appropriate.
Good news for bulls is that the Jan 26-29 sell off appears to be an Elliott Wave zigzag pattern. This gives the market a higher probability of reaching another new high. Perhaps it meets the trend line in new high territory?
Good news for bulls is that the Jan 26-29 sell off appears to be an Elliott Wave zigzag pattern. This gives the market a higher probability of reaching another new high. Perhaps it meets the trend line in new high territory?
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www.seethewaves.com - A school to learn how to read charts & Elliott Wave Theory.
EW Express - bit.ly/elliottwaveexpress