The candles on weekly 10/5, 10/12, and 10/19 look similar to the ones from last 3 weeks. In October, on that 4th candle, 10/26, SPX declined to 1033. Next week marks the 4th candle from the recent pattern, and SPX at 1026 next week is possible.
Conversely, the weekly could be forming an ascending triangle bullish lol...but other indicators suggest it is weakening
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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