August 4, 2010

S&P 500 rectangle consolidation pattern

UPDATED CHART

  • S&P 500 is trading in a rectangle sideways consolidation pattern
  • Break out of this range can give a good trade on either direction.
  • I am expecting a continuation of the up trend to continue.
  • We had a similar trade today in nifty click the below link to see it.
  • RECTANGLE BREAKOUT TRADE OF NIFTY
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2 comments:

  1. assortZAugust 4, 2010 at 10:22 PM

    Hi San,

    You posted wedge pattern in Dow few days ago...it is just getting broken it seems..kindly check and update

    ReplyDelete
  2. SanAugust 4, 2010 at 10:33 PM

    @assortZ

    Yes the raising wedge in Dow Jones futures daily chart. the upper resistance line is being tested again. The daily candle should close above it for a stable up move to continue.

    ReplyDelete

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