SPX Cup Handle Breakout
A 'cup and handle' pattern is forming in the S&P 500, signaling a potential breakout ahead.
Too little corroboration in the last 3 days to call a trend (2 articles). Watching for it to gain traction.
"The index has climbed above the 50-day Exponential Moving Average (EMA) and the Ichimoku Cloud, signaling that bulls remain in control. As a result, it could stage a strong bullish breakout, potentially reaching 8,000 by the end of the year."
"Given the proximity to resistance, it’s well-positioned to deliver a breakout following the weighted S&P. Technicals are net bullish, but there is still significant underperformance relative to the weighted average."
""The case is for a breakout above 5265 that targets 5560 on a summer rally.""
""A 'cup and handle' pattern is forming in the S & P 500, and could signal a potential breakout ahead, according to Bank of America.""