Chart Patterns & Algorithmic Trader (Feb. 25, '19) (18)
$SPX Megaphone Pattern
s
Reviewed in CPAT 1/21/19
$SPX.X (Daily) is trading in a Megaphone pattern. MegaPhone patterns tend
to reverse their price trends in 5 swings from upper and lower trendlines
until they breakout or breakdown. SPX may see some resistance at the Mid
Megaphone level (2677 to 2740). A Breakout above 200 SMA may set it
trend towards upper trend line to complete the pattern.
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