Just one man's view but I think the megaphone pattern has been
invalidated because SPX has been out of that pattern for 5 weeks.
That pattern was clearer on a weekly chart. You can
see how the upper trendline was resistance and became support.
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Posted by matt on 29th of Jan 2021 at 01:02 am
Down -46 this evening
While the gap down doesnt
Posted by chartboy on 29th of Jan 2021 at 05:36 am
While the gap down doesnt seem terribly significant in the short term. Longer term, it is debatably occurring as a gap back into the megaphone.
CB, just curious how you
Posted by Trendie on 29th of Jan 2021 at 08:10 am
CB, just curious how you got those cycles on your StockCharts chart.
Just one man's view but
Posted by z0ned on 29th of Jan 2021 at 07:51 am
Just one man's view but I think the megaphone pattern has been invalidated because SPX has been out of that pattern for 5 weeks. That pattern was clearer on a weekly chart. You can see how the upper trendline was resistance and became support.