palmer

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Ready for a Pennant breakout? Explosive move coming...

palmer

The S&P500 has settled into an ascending triangle over the last few months. This indicates that a breakout is imminent in the next few trading days. An ascending triangle is considered a bullish formation. Either way, however, we should see big price movements in the coming days as the S&P breaks out of formation.

palmer

On Apple's daily chart we can see a pattern developing. Apple reached a high on September 2nd, then had a pullback that lasted exactly 44 days before skyrocketing 25%. When the 25% bull run was over, Apple again pulled back for 49 days (to the channel support tendline). After the 49 day pullback, Apple again skyrocketed 25%. In the current period, Apple is 31 days...