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S&P 500 “Daily“….remains confined inside of a 7% channel. Making key wick patterns around the highs and lows
S&P 500 “Weekly“… Head & Shoulders pattern on a “weekly” basis has a cleaner look, compared to the daily chart.
On a long-term 500 weekly chart, strong long-term resistance remains in place, as the 500 is close to the top of a trading range. Key price to watch per the “H&S” comes in around 1,270, which has the looks of a neckline.
The top line of the long-term range includes such important highs (1987) and lows (2002/2003).
