Are We Really Repeating This S&P 500 Index Pattern Again? [ProShares Short S&P500 (ETF), ProShares UltraShort S&P500 (ETF)]

technical bounceCorey Rosenbloom: Could we be caught in the Twilight Zone again and doomed to repeat the same outcome in the market?

Let’s take a look at our broader S&P 500 chart and highlight a repeat bullish outcome pattern and chart where we are and how far we have to go at the moment to repeat it again.

S&P 500 Repeat Pattern Recognition

Each green rectangle above represents a strong impulsive or “bar-over-bar” non-stop upward price action as the uptrend continues.

Many of these bar-over-bar impulse swings have been fueled by a short-squeeze or capitulation of the bears, particularly after “Bear Traps” triggered (with breaks under the rising 50 day EMA).

Pages: 1 2 3

Leave a Reply

Your email address will not be published. Required fields are marked *