2 Major Reversal Patterns S&P 500 Bulls Will Look to Avoid This Week

finished lower by around 50 bps. This came following a Friday morning rally met by selling that started a bit after 10 a.m.

Over that time, it appears to have occurred eight other times, and 7 of those times, it has led to a lower week the following week. In 5 of the seven occasions, it led to declines of 35.3%, 11.2%, 14.4%, 12.9%, and 19.3%. The weekly reversal candle will be invalidated if the S&P 500 closes above 5464.61 on the weekly chart.

Which one sounds more ridiculous now? So caution is warranted currently, and being cautious is not the same as being short or perma bearish. It is about assessing the odds and managing one’s risk.

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