Trump announces trade deal with EU following months of negotiations
In 2000 and 2007 the S&P 500 created bullish ascending triangle patterns, which two-thirds of the time suggests that higher prices are ahead. The key to this pattern is support holding. Both times multi-year support failed to hold and you know the rest of that story.
Now the S&P 500 appears to be creating the same pattern again -- at 161% Fibonacci extension resistance.
In 2000 and 2007, what the S&P 500 did at support was very important.
In my humble opinion, what the S&P 500 does at support right now is very important too.
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