This Market Shape Is More Telling than a "Death Cross" | Power Profit Trades

This Market Shape Is More Telling than a "Death Cross" | Power Profit Trades



This is a good article by Tom Gentile about how to interpret the current Dow and S&P 500 charts.  The death cross on the Dow has been much talked about as a negative stock market indicator.  However, Tom brought up a chart of a "symmetrical triangle" signal on the S&P 500 which is more positive than the Dow.  The triangle will eventually come to a point and market direction will break hard in one way or the other.  Tom seems to think stocks will rally higher because the ascending support line is longer than the lowering resistance line.