Trading SPX Cycles

[Torqputty]

SPX and Flags & Pennants

re; chiming-in on the current discussion regarding channel pattern and break-out

here is a chart of Flags and Pennants. The one on the upper right is a Bear Flag. I think the bear flag most resembles the pattern currently displayed by SPX. Except that this example shows 3 tags to the top line and then breaks-out the lower line on the 4th tag.

In my opinion SPX is displaying a bear flag (a continuation pattern) and that the most likely direction is to the Downside. That opinion is based on market mood and this bear flag. The thing im Not clear on; is how many times price will tag the channel lines before we break-out. Also; I think there is always a 1% chance the pattern could fake everyone out and break to the top-side especially when we’re All sure of direction.

My bet is to the downside unless the pattern is negated

northam; my post is not regarding SPX cycles but it is regards to SPX and supports the current discussion.

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