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SPX Possible Double Bottom?

Posted by StockBuz on June 10, 2010 at 10:56pm in Long Setups

This is only one of the possibilities but given the dropping ADX and MACD divergence, I thought I'd share it. Of course its not a double bottom until resistance is broken [in blue] but if it turns into something else; no harm-no foul right? Note that this is a 60min chart so we're only talking a short term swing. **If** we've truly put in a top, this will be considered a "suckers rally" as big $ sells into the strength only to head back lower. Only time will tell.

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double-bottom, spx

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