Double Top Pattern Emerges on SPX: Bearish Signals Ahead

SPX

After diligently tracking the price fluctuations for the past fortnight, we reached our second peak on Friday. Close examination of the shorter time frames, such as the hourly and four-hour charts, reveals a distinct double top pattern. Moreover, this pattern receives further validation from its manifestation on the daily and weekly charts. Consequently, our attention should now be directed towards achieving our initial target of 4100 by mid-June.

Disclaimer: The information provided in this statement is for educational and informational purposes only. It is not intended as financial advice, and should not be interpreted as such. Any investment or trading decisions should be made based on personal research, analysis, and consultation with a qualified financial professional. Trading and investing in financial markets involve substantial risks, and individuals should carefully consider their financial situation and risk tolerance before making any decisions. The author and the platform do not assume any responsibility for the accuracy or completeness of the information provided, nor do they guarantee any specific outcomes or results.