Users: Ryan Mallory: S and P 500 Market Analysis 1-11-13
S and P 500 Market Analysis 1-11-13
Only problem I see is in the 60 Minute SPX. Technically, it broke out Wednesday and had super weak follow through. Makes me wonder if instead this could be forming a rising wedge, not a bull flag. Volume confirmation is incorrect. Higher High is on less volume than previous attempts. Not saying your thesis is incorrect, just that confluence isn't overtly strong.
Good analysis, the only thing on the daily where i mentioned the bull-flag existed, it has already broken out of it.