SPX weekly

SPX w Price channel/fallinge wedge ~ SPX weekly is also showing a price channel (A-fork) which will be also a signal breakout above 900. I think that breaking above 900 will not be a hard task once upside momentum is fueled as the weekly is very oversold. So, it is a good idea to prepare to buy favorite stocks during this down turn. Good luck


SPX falling wedge formation ~ as shown on the SPX weekly chart, SPX is showing falling wedge formation in oversold condition going into the Fed/OE week. We will likely see IT bottom during the week and will likely see selling-exhaustion in light selling volumes, then, markets will likely turn to upside during the CIT. Breaking the SPX falling wedge trendline is a good initial signal for intermediate bottom after making the bottom which noted above.