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S&P awaiting confirmation of a bullish breakout

Long
TVC:SPX   S&P 500 Index
Falling flag following a rising pole showcasing a classic bullish pattern . Awaiting confirmation move above the falling flag channel for entry point. Preference would be to trade with the confirmation breakout move accompanied by large volume showing the market supports the breakout and a general bullish move.

Risks are that rsi is trending down and volume is not showing any type of fall/decrease within the flag formation that usually shows the market is not buying the counter bullish move.

But these can likely be disregarded in favour of the strong price pattern of the falling flag if breakout is accompanied by larger volume .

Comments

Very nice analysis.
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