E-Mini S&P 500 Technicals Shift – What It Means For The Top

Published 04/21/2015, 11:22 AM

E-Mini S&P 500

The S&P 500 Killed Its Falling Megaphone Scenario Overnight, Which Means Gray Rising Megaphone Top could be THE Top

S&P 500 continued up its gray rising megaphone top overnight, killing off its potential falling megaphone to its triangle bottom.

What that means is that when S&P 500 breaks out of this gray rising megaphone top and starts falling, it will have no retrace requirements up here. That means the gray rising megaphone top could be The Top.

We’ll know it was The Top if we get a 120+ point one-day drop en route to the bottom of the 3-year price channel, which the rising megaphone and other megaphones on the chart make possible.

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