M head in S&P 500

[wp_lightbox_prettyPhoto_image link=”http://www.economicsignature.com/wp-content/uploads/2018/03/20180319-SP500.png” description=”

The chart explains itself. S&P 500 forms an M head. Further, the most recent top forms an isolated portion, which signals an island reversal. When we connect the lows in February and in early March, a neck line can be drawn. If S&P 500 cannot stand above the neck line, another selloff will come.” source=”http://www.economicsignature.com/wp-content/uploads/2018/03/20180319-SP500.png” title=”M head in S&P 500″]

The chart explains itself. S&P 500 forms an M head. Further, the most recent top forms an isolated portion, which signals an island reversal. When we connect the lows in February and in early March, a neck line can be drawn. If S&P 500 cannot stand above the neck line, another selloff will come.

 

Comments are closed