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S&P 500 Index
Short

Keep a close eye on SPX

By johndustinsloan
The S&P500 is reaching the pinnacle of the bearish rising wedge pattern on the weekly chart. We have yet to confirm a local high on the weekly chart however, if we do, this will be the third drive of bearish divergence. It is possible we see a bull trap to retest the upper trendline on the weekly RSI chart first. Watch the trendlines for possible bounce and/or reversal opportunities.
Chart PatternsTechnical IndicatorsTrend Analysis
johndustinsloan

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