Bullish S&P Chart?

Discussion in 'Technical Analysis' started by ess1096, Aug 28, 2006.

  1. ess1096

    ess1096

    As an amateur technician, I think I see a cup& handle and a double bottom. And if the S&P closes near it's current level today it looks like a breakout from a flag pattern.

    Anyone else agree with this bullish view or should I continue learning?

    I'm trying to attach a pic.....
     
  2. Not sure about the cup and handle, but being bullish continues to be the right stance. SPX needs a few gap up days to get through overhead resistance.

    To load a picture, save one on your conputer and use the "browse" feature below.
     
  3. humble1

    humble1

    The SP 500 has made the double bottom measurment, you were correct.
     
  4. humble1

    humble1

    The DOW has a little farther to go yet to makes it's bottom measurment.
     
  5. humble1

    humble1

    The SOX is working on 2 patterns, one bullish and one bearish, so far the bears have it. The bulls need to hold this area to cause a short covering rally.
     
  6. humble1

    humble1

    QQQQ weekly is at resistance and may roll over here as the DOW makes new highs. There is a daily inverted HnS pattern working right now that measure 41.45. Volume on the rallies has been tapering off a bit, so it is questionable whether this one will make it up there.