S&P 500 BREAKOUT

CHART-III

• Could not sustain above 1150 the breakout has failed

CHART-II

• The breakout shown in the below chart should sustain above 1150 otherwise this will be a failed breakout.
• Another attempt with good volume may do it for the bulls. If the volumes are low it's not going to sustain above 1150.

CHART-I

• S&P 500 Futures has broken out of the triangle pattern
• Index has also given a breakout above 1150.
• Bears would be hoping for a false breakout which may happen if the index starts to trade below 1150 again.
• First target for this breakout would be 1160 provided this is not a false breakout.