What the bulls are up against !


This is what is making the breakout so difficult. If bulls breakout and sustain above SPX 2675, it would mean a horizontal breakout, wedge breakout, three fan line breakout and an inverse H&S breakout.

Make no mistake. This is the most bullish pattern you can find, if we breakout. If we fail to breakout, it will be uber-bearish. If you are carrying positions overnight,  wait for either a confirmed breakout, even if it means buying higher or make sure you sit on enough profit buffer. A pattern failure here and a gap down on some tweet from POTUS could be huge.

My short term trend signal from April 9 remains on a buy, but has not made any upside progress since then.

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