S&P Expert sees more downside to come

Quote from Stilllearnin:

Stock trad3R...

What do you see that makes you think we are headed up.?

Thanks.

SL
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I will answer that.

SPX ran up 60 points on good volume taking out all the resistances. Than it gets overbought and starts trailing down on low volumes and make a tight nice BULL FLAG. Now this is a well known bullish chart pattern in Technical Analysis , which more likely will result in a breakout to the upside taking out 1400 levels and set the ink on Bull Markets.
 
Quote from HedgefundTrader2:

I will answer that.

SPX ran up 60 points on good volume taking out all the resistances. Than it gets overbought and starts trailing down on low volumes and make a tight nice BULL FLAG. Now this is a well known bullish chart pattern in Technical Analysis , which more likely will result in a breakout to the upside taking out 1400 levels and set the ink on Bull Markets.
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BULL Markets?

Not so fast, I do agree the S&P daily chart looks very bullish, but when VIX touches the zero line, that's where start building my short positions.

patiences.. patience...
 
Quote from Stilllearnin:

Stock trad3r,

Would you agree it depends on what time frame you are concerned with?

Does the S&Ps current P/E concern someone trading 60 min charts?
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Fundamentals only show up on weekly and monthly charts. You won't see them in the 60 minute or daily charts.
 
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