rookies first post

SP:SPX   S&P 500 Index
Could it be a triangle or an ABC zigzag correction? I'm watching from the sidelines.
The 63MA is rising, it doesn't matter how many days price closes under a MA if it is rising one close above a significant MA, 1 months (21 days), 3 months (63 days), 1 year (252 days) and the trend most likely will continue, the one year MA is also rising therefore the bull market is still in play, all that has happened is volatility has returned to the market, something that used to be normal before endless QE...Lots of people will say that the 21 has crossed the 63 downwards therefore price should go down but if the longer term MA 252 is still rising the MA crossover of the smaller timeframes is invalidated and unlikely to work.
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