Thursday, April 6, 2017

This likes like a SPX bullish breakout to me



For more information on flag patterns, see Wikipedia.

The idea is that after a run up, there will be a period that the stock trades slowly downward, before resuming upwards. 

I think this fits the description, what do you think? 

Officially, this hasn't closed yet for the day so it might close inside the flag again.  



4-7-17 UPDATE
It did fall back below the line to a non-breakout!  It's above it again today, so we'll see where it closes.  I think this will be a very short rally of a few days only.

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