The following comments were made in last week's post on the daily bar chart pattern of S&P 500: "A breakdown below the 'descending triangle' pattern and a test of support from the rising 200 day EMA appears imminent."
On Nov 1, the index fell sharply below the support level of 2120 and dropped below its rising 200 day EMA intra-day, but bounced up to close just above 2110. The respite for bulls was short-lived.
-- On Nov 1, the index fell sharply below the support level of 2120 and dropped below its rising 200 day EMA intra-day, but bounced up to close just above 2110. The respite for bulls was short-lived.
Read more at:
http://investmentsfordummieslikeme.blogspot.in/2016/11/s-500-and-ftse-100-charts-nov-04-16.html
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