The S&P 500 looks poised to head higher yet this week.
And that looks due in part to a well formed bullish Gartley pattern. A-B-C-D
The S&P 500 has posted gains in 5 of its last 6 trading sessions and bulls likely aren’t quite done.
This bullish pattern is likely to see continuation on up to its price target at 2755 before any selling takes place.
The bulls are stretching the price action here, so we may hit this target early in the week. But with that would come overbought conditions that are ripe for a couple day pullback/consolidation.
S&P 500 Futures Chart – “2 Day” bars
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The author trades stock market futures every day and may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
