Title: Ascending Triangle on the S&P 500"Currently, we’re seeing an ascending triangle forming on the S&P 500. This pattern typically indicates a potential change in momentum. However, we're also noticing a clear bearish divergence on the 4-hour TDI (Traders Dynamic Index), which could suggest that upward momentum is weakening.
The key scenario to watch for is if the price fails to close above the upper trendline. As long as we don't get a candle body close above that resistance level, the pattern may remain intact.
It’s crucial to remember that this is not financial advice, and the pattern could still become invalid if market conditions change. However, there is a chance that this could signal a top formation."