Trading the Triangle: S&P500 is Bullish and Target New Highs

2023年4月5日

Huge triangle in formation on the S&P500. The short term indicators are bullish: we are above the 150 day and 200 weeks moving averages, both being used as support when price is above them.
Price has been contracting last few weeks and traders are waiting to pick a direction. The bearish target would be 2700$, a price we didn't see since the sanitary crisis. The bullish target would be a new all time high at 5270$. Let's see.