ES Retesting Bottom Of Potential Flat Topped Triangle
Trader Moe | Aug 25, 2016 09:51AM ET
ES is Retesting the Bottom of its Potential Flat-Topped Triangle – If It Gets Thru It, It’s Likely Forming a Flat-Topped Megaphone
ES failed to take out its August 17 low yesterday, setting up a potential flat-topped triangle. It’s retesting the bottom of that potential triangle now.
If it takes out the August 17 low while it’s down here, it’s likely forming a flat-topped megaphone.
Either way it’s likely to break out through that flat top eventually into a pop to roughly 25 points higher to complete the head of a head and shoulders top before a big move down.
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