S&P500 Weekly Chart Analysis - Will it go against logic?

S&P500 Weekly Chart - Bull Flag

Bull Flag Retracement (See Chart 1)

- Bull Flag from 13 Mar, recent pullback was to Fibonacci 61.8

Bear Flag Retracement (See Chart 2)

- Bear Flag since 3 Mar 2023, current price action has retraced to Fibonacci 78.6 (even breaking above it past week)

S&P500 Weekly Chart - Bear flag

What does it mean?

- A support at 61.8 for bull flag does show a somewhat bullish outcome given the strength it bounce off

- A prolonged stay above Fib 61.8 on the bear flag) and now even going above Fib 78.6 does point to a good chance of full reversal, meaning going back to the same ATH as 3 Mar 2023

Will we get there?

- I'm still leaning we will get there, albeit, there could be a good pullback to SPY 437

@CaptainTiger @macroB @melson @TigerStars @Deposit @LMSunshine

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Comments

melson
2023-11-25
melson
market makers decide
- Asphen:
  yes for sure.
Aqa
2023-11-27
Aqa
Liked and shared. 👍🏻
- Asphen:
  thank you

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What news/movements are worth noting in the market today? Any stocks to watch? \n2. What trading opportunities are there? Do you have any plans?\n🎁 Make a post here, everyone stands a chance to win Tiger coins!","image":"https://static.tigerbbs.com/cd8eaff2e99964ab7a80d92cc196fcd3"}],"images":[{"img":"https://community-static.tradeup.com/news/4aa585644ff7306794ac2034bbc4c877","width":"1280","height":"674"},{"img":"https://community-static.tradeup.com/news/2548a332c365ead6cd14b3aa4d82b7a8","width":"1280","height":"677"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/4aa585644ff7306794ac2034bbc4c877","width":"1280","height":"674"}],"title":"S&P500 Weekly Chart Analysis - Will it go against logic?","html":"<html><head></head><body><p class=\"t-img-caption\" style=\"display: flex; flex-direction: column; align-items: center;\"><img src=\"https://community-static.tradeup.com/news/4aa585644ff7306794ac2034bbc4c877\" tg-width=\"1280\" tg-height=\"674\"><span class=\"\">S&amp;P500 Weekly Chart - Bull Flag</span></p>\n<h3>Bull Flag Retracement (See Chart 1)</h3>\n<p>- Bull Flag from 13 Mar, recent pullback was to Fibonacci 61.8&nbsp;</p>\n<p><br></p>\n<h3>Bear Flag Retracement (See Chart 2)</h3>\n<p>- Bear Flag since 3 Mar 2023, current price action has retraced to Fibonacci 78.6 (even breaking above it past week)</p>\n<p><br></p>\n<p class=\"t-img-caption\" style=\"display: flex; flex-direction: column; align-items: center;\"><img src=\"https://community-static.tradeup.com/news/2548a332c365ead6cd14b3aa4d82b7a8\" tg-width=\"1280\" tg-height=\"677\"><span class=\"\">S&amp;P500 Weekly Chart - Bear flag</span></p>\n<h3>What does it mean?</h3>\n<p><br></p>\n<p>- A support at 61.8 for bull flag does show a somewhat bullish outcome given the strength it bounce off</p>\n<p><br></p>\n<p>- A prolonged stay above Fib 61.8 on the bear flag) and now even going above Fib 78.6 does point to a good chance of full reversal, meaning going back to the same ATH as 3 Mar 2023</p>\n<p><br></p>\n<h3>Will we get there?</h3>\n<p><br></p>\n<p>- I'm still leaning we will get there, albeit, there could be a good pullback to SPY 437</p>\n<p><br></p>\n<p><a href=\"https://ttm.financial/U/3527667618000160\">@CaptainTiger &nbsp;</a><a href=\"https://ttm.financial/U/3560858852313727\">@macroB &nbsp;</a><a href=\"https://ttm.financial/U/4123471905369072\">@melson &nbsp;</a><a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars &nbsp;</a><a href=\"https://ttm.financial/U/3577700186071729\">@Deposit &nbsp;</a><a href=\"https://ttm.financial/U/4113904591642392\">@LMSunshine &nbsp;</a></p></body></html>","htmlText":"<html><head></head><body><p class=\"t-img-caption\" style=\"display: flex; flex-direction: column; align-items: center;\"><img src=\"https://community-static.tradeup.com/news/4aa585644ff7306794ac2034bbc4c877\" tg-width=\"1280\" tg-height=\"674\"><span class=\"\">S&amp;P500 Weekly Chart - Bull Flag</span></p>\n<h3>Bull Flag Retracement (See Chart 1)</h3>\n<p>- Bull Flag from 13 Mar, recent pullback was to Fibonacci 61.8&nbsp;</p>\n<p><br></p>\n<h3>Bear Flag Retracement (See Chart 2)</h3>\n<p>- Bear Flag since 3 Mar 2023, current price action has retraced to Fibonacci 78.6 (even breaking above it past week)</p>\n<p><br></p>\n<p class=\"t-img-caption\" style=\"display: flex; flex-direction: column; align-items: center;\"><img src=\"https://community-static.tradeup.com/news/2548a332c365ead6cd14b3aa4d82b7a8\" tg-width=\"1280\" tg-height=\"677\"><span class=\"\">S&amp;P500 Weekly Chart - Bear flag</span></p>\n<h3>What does it mean?</h3>\n<p><br></p>\n<p>- A support at 61.8 for bull flag does show a somewhat bullish outcome given the strength it bounce off</p>\n<p><br></p>\n<p>- A prolonged stay above Fib 61.8 on the bear flag) and now even going above Fib 78.6 does point to a good chance of full reversal, meaning going back to the same ATH as 3 Mar 2023</p>\n<p><br></p>\n<h3>Will we get there?</h3>\n<p><br></p>\n<p>- I'm still leaning we will get there, albeit, there could be a good pullback to SPY 437</p>\n<p><br></p>\n<p><a href=\"https://ttm.financial/U/3527667618000160\">@CaptainTiger &nbsp;</a><a href=\"https://ttm.financial/U/3560858852313727\">@macroB &nbsp;</a><a href=\"https://ttm.financial/U/4123471905369072\">@melson &nbsp;</a><a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars &nbsp;</a><a href=\"https://ttm.financial/U/3577700186071729\">@Deposit &nbsp;</a><a href=\"https://ttm.financial/U/4113904591642392\">@LMSunshine &nbsp;</a></p></body></html>","text":"S&P500 Weekly Chart - Bull Flag Bull Flag Retracement (See Chart 1) - Bull Flag from 13 Mar, recent pullback was to Fibonacci 61.8 Bear Flag Retracement (See Chart 2) - Bear Flag since 3 Mar 2023, current price action has retraced to Fibonacci 78.6 (even breaking above it past week) S&P500 Weekly Chart - Bear flag What does it mean? - A support at 61.8 for bull flag does show a somewhat bullish outcome given the strength it bounce off - A prolonged stay above Fib 61.8 on the bear flag) and now even going above Fib 78.6 does point to a good chance of full reversal, meaning going back to the same ATH as 3 Mar 2023 Will we get there? - I'm still leaning we will get there, albeit, there could be a good pullback to SPY 437 @CaptainTiger @macroB @melson @TigerStars @Deposit @LMSunshine","highlighted":1,"essential":2,"paper":2,"likeSize":11,"commentSize":4,"repostSize":5,"favoriteSize":0,"link":"https://ttm.financial/post/245275813404864","repostId":0,"isVote":1,"tweetType":1,"viewCount":550,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":["VIXmain","ESmain","GTLS"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":644,"xxTargetLangEnum":"ORIG"},"commentList":[{"id":245294075191360,"gmtCreate":1700910289639,"gmtModify":1700910296721,"authorId":4123471905369072,"author":{"id":4123471905369072,"authorId":4123471905369072,"name":"melson","avatar":"https://community-static.tradeup.com/news/fe7079b4776e26217c92d8df6830df10","vip":1,"currentWearingBadge":{"badgeId":"1f541396f99840fb977d0ab0ce343c94-1","templateUuid":"1f541396f99840fb977d0ab0ce343c94","name":"Weekly 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