Bullish S&P Chart?

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

  1. 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


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


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


    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.