Bear Flag on S&P 500 Weekly
Updated
Points down to 2015/6 support.
This market makes no sense at the moment.
However a bunch of bear flags on weekly's can be seen across the board and all traders that I consider sane/logical thinking don't want to go long now and think the price doesn't reflect the seriousness of the (economic) situation.
This market makes no sense at the moment.
However a bunch of bear flags on weekly's can be seen across the board and all traders that I consider sane/logical thinking don't want to go long now and think the price doesn't reflect the seriousness of the (economic) situation.
Comment
A steep flag no doubt about it, however it is still valid as the week of May 4th close went right up to retest the flag's lows. Trend continuation is still in play.Going long here feels like gambling to me. You could win some, but feels like a pure lotto play.
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