S&P500 Bull Flag
A bull flag has formed on the 4 hour chart. The bottom of the flag was broken as price dipped down to demand zone however it printed an inverse head and shoulders pattern on a 15 minute chart, and failed to break the zone. Expecting to see price back up inside of the flag by NY open, with a possible breakout occurring by the end of the week. Caution- the bottom trend line of the flag could act as a resistance, invalidating the flag. We should know by market open tomorrow - Good luck.
Note
Target 3180 end of week
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.