S&P500 Upside Resistance
The 30-minute Triangle breakout buy was triggered on the S&P500 as prices traded higher through the downtrend line resistance, at 1120. The Initial Trend reading for this trade, at a relatively low four bars, indicates a distribution cycle; therefore, look to identify nearby resistance levels as there may not be extended follow-through from the breakout.
Source: communications@autochartist.com (Communications)
