For those readers who want fast action, I just checked an hourly chart of the S&P 500 Index. There is an Ascending Triangle pattern forming as clear as the nose on my face. An Ascending Triangle is a very bullish formation. I have made good coin on Ascending Triangles in the past. All it means is that the buyers are more aggressive than the sellers. As a result of this imbalance, the price action keeps hitting a certain level (seller supply) while the buyers are willing to buy higher and higher prices (buyer demand). The lower trend line rises higher and higher until the level of selling is breached. Prices then move explosively upwards (think November 30 through December 3).
Higher prices are ahead!
Wink
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