Home > charting trendlines > S&P testing falling channel resistance

S&P testing falling channel resistance

Since its most recent breakdown from trendline/200 day MA resistance, the S&P has fallen in a very tidy channel.  This morning it is threatening to break above that channel resistance.

I am particularly interested because a number of technical analysts that I follow believe there will be another bull run to maybe 1320-1340 on the S&P before it rolls over for good.  Elliot Wave proponent Avi Gilburt, and Michael A. Gayed have both been confidently forecasting this potential run to upside.  My favorite technician, Chris Kimble, has made no such projections.

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