Browse Symbol Stacks: $SPX: slopechart_$SPX.jpg
I left the channel defined by the February 24 low alone for some time. I did this because nothing in technical analysis is for sure. A pattern can break and not do what it is supposed to do. In fact patterns might all be horseshit. Regardless, I am a sucker for them like everyone else and...
We seem to be in some kind of 'season of the overthrow'. Crypto been doing it for a little over a year and is what inspired me to hold this channel in place. Now it is creeping into the indices.
Trendlines, triangles, pennants and whatever else you want to draw are getting broken but are back in business a week or two later. I thought that was interesting.
I will maybe redraw the channel now that we have a new high to work with.
Green dotted is hysterical channel going back to the end of the world in 2008. (also now qualified as overthrown I would think :P)
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