SP500 Wyckoff Spring with Outside Day in the Daily + Cup&Handle
The daily charts offer a Spring setup opportunity while the weekly chart supports that idea with a good-looking Hammer.
What is interesting is the Outside Day bar, which comes on a good volume.
There is a previous resistance that turns support. The setup is a bit tighter than I'd prefer and makes the risk-to-reward, not the best, but the markets are rarely perfect.
This particular setup might also be called a cup and handle pattern by William Oneil's fans. Its target is equal to an important Fib extension level.
What is interesting is the Outside Day bar, which comes on a good volume.
There is a previous resistance that turns support. The setup is a bit tighter than I'd prefer and makes the risk-to-reward, not the best, but the markets are rarely perfect.
This particular setup might also be called a cup and handle pattern by William Oneil's fans. Its target is equal to an important Fib extension level.
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