The SPX500 failed to reach a new high when it hit resistance at 4160.0, forming a triangle pattern. The price has broken the ascending trend line and the 4-hour 50 moving average, and a break to the downside of the pattern at 4080.5 would confirm a new downtrend, signaling a sell with a target of 4006.0.
On the other hand, if the price breaks the pattern to the upside, we must wait for it to clear the 4186.0 level before considering buying opportunities.
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On the other hand, if the price breaks the pattern to the upside, we must wait for it to clear the 4186.0 level before considering buying opportunities.
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