Anyone fimiliar with broading triangle?

Discussion in 'Technical Analysis' started by wmwmw, May 25, 2020.

  1. wmwmw

    wmwmw

    Daily SPX chart forms a broadening triangle pattern, which is bearish and a top signal.
    To be specifically, on spx daily chart,5/14 low was lower than 5/4 low,and 5/20 high was higher than 5/12 high.
     
  2. Trader Curt

    Trader Curt

    You just answered your own question.
     
  3. wmwmw

    wmwmw

    That's all I knew about this chart pattern, but I would like to know if there is someone who knows better.
     
  4. Trader Curt

    Trader Curt

    There is really nothing else to know, the majority of the time it's bearish. Time to play it as such
     
  5. volpri

    volpri

    Why don’t you post the chart. I might feel giddy enough to make a few comments. Whether they will be useful or not is a totally different story!
     
    Trader Curt likes this.
  6. never2old

    never2old

    it will waffle, yet it looks like the S&P will hit its February 19 close of 3386 by end of June.
     
  7. maxinger

    maxinger

    I don't see any broading triangle.

    day chart seems to show there is rising channel.

    pse show your diagram.
     
  8. looks consolidating and going upwards, plus green macd signal, where the hell is this triangle on one min chart?
     
  9. never2old

    never2old

    what do the charts say now?
     
  10. wmwmw

    wmwmw


    No change.
    DOW,RUT,SPX all have broadening triangles.
    Only NDX has been bullish.
     
    #10     May 26, 2020