SPX'S Last man standing :-)

Updated

This is the last down sloping trend line, we need to have clear break out retest it and then go up far a way from it to confirm a valid break out. Going back
again below the trend line means this is a fake break out . Many indicators as we have suggested last Friday are suggestion a trough of some sort whether
a major one for anew ATH, or reasonable one for another leg down !!!

Note

First rejection is okay, much better than fake break out and coming back again below the trend line. Second rejection might also be excepted , not third though. Remember guys, we need to have higher lows to confirm a change in direction !

Note

2ed Rejection is confirmed, better not have a 3ed one for bulls.

Note

Last man standing has fallen with ONE big gap.

samitrading

I do more in depth studies of stocks on my twitter account. Hope you would enjoy it there as you are enjoying it here.

****** Past performance is no guarantee of future results***

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