{"id":6670,"date":"2013-02-11T01:14:05","date_gmt":"2013-02-11T06:14:05","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=6670"},"modified":"2013-02-11T01:14:05","modified_gmt":"2013-02-11T06:14:05","slug":"sp-500-reverse-pennant","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/11\/sp-500-reverse-pennant\/","title":{"rendered":"S&#038;P 500 reverse pennant"},"content":{"rendered":"<p>The S&amp;P 500 displays a small broadening wedge (reverse pennant) on the daily chart. Respect of support at 1500 on the last down-swing (within the wedge) suggests an upward breakout. Watch for bearish divergence on 21-day Twiggs Money Flow &#8212; which would warn of retracement to the rising trendline.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"S&amp;P 500 Index\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-02-11-spx.png?w=525&#038;ssl=1\" \/><\/p>\n<p>The quarterly chart warns us to expect strong resistance at the 2000\/2007 highs of 1550\/1575. Recovery of 63-day\u00a0 Twiggs Momentum above 10% would increase likelihood of an upward breakout &#8212; with a target of 1750* &#8212; while retreat below zero would suggest a primary reversal.<br \/>\n<img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"S&amp;P 500 Index\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-02-11-spx-q.png?w=525&#038;ssl=1\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;color:#999999;\">* Target calculation: 1550 + ( 1550 &#8211; 1350 ) = 1750<\/p>\n<p>The Dow is similarly testing long-term resistance, at 14000. Breakout is likely, with 13-week Twiggs Money Flow troughs at zero indicating long-term buying pressure.<br \/>\n<img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"S&amp;P 500 Index\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2013\/2013-02-11-dow-q.png?w=525&#038;ssl=1\" \/><\/p>\n<p>I repeat my warning from last week:<\/p>\n<blockquote><p>These are times for cautious optimism. Central banks are flooding markets with freshly printed money, driving up stock prices, but this could create a bull trap if capital investment, employment and corporate earnings fail to respond.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The S&amp;P 500 displays a small broadening wedge (reverse pennant) on the daily chart. Respect of support at 1500 on the last down-swing (within the wedge) suggests an upward breakout. Watch for bearish divergence on 21-day Twiggs Money Flow &#8212; which would warn of retracement to the rising trendline. The quarterly chart warns us to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/11\/sp-500-reverse-pennant\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;S&#038;P 500 reverse pennant&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,57,34],"tags":[1113,2402,3014],"class_list":["post-6670","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-stock-markets","category-us-canada-countries-regions","tag-dow-jones-industrial-average","tag-nasdaq-100-index","tag-sp-500-index"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>S&#038;P 500 reverse pennant - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S&#038;P 500 reverse pennant - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The S&amp;P 500 displays a small broadening wedge (reverse pennant) on the daily chart. Respect of support at 1500 on the last down-swing (within the wedge) suggests an upward breakout. Watch for bearish divergence on 21-day Twiggs Money Flow &#8212; which would warn of retracement to the rising trendline. The quarterly chart warns us to &hellip; Continue reading &quot;S&#038;P 500 reverse pennant&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/11\/sp-500-reverse-pennant\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-11T06:14:05+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2013\/2013-02-11-spx.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/11\\\/sp-500-reverse-pennant\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/11\\\/sp-500-reverse-pennant\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"S&#038;P 500 reverse pennant\",\"datePublished\":\"2013-02-11T06:14:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/11\\\/sp-500-reverse-pennant\\\/\"},\"wordCount\":163,\"commentCount\":3,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/11\\\/sp-500-reverse-pennant\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2013\\\/2013-02-11-spx.png\",\"keywords\":[\"Dow Jones Industrial Average\",\"Nasdaq 100 Index\",\"S&amp;P 500 Index\"],\"articleSection\":[\"Banks &amp; Interest Rates\",\"Stock Markets\",\"US &amp; Canada\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/11\\\/sp-500-reverse-pennant\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/11\\\/sp-500-reverse-pennant\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/11\\\/sp-500-reverse-pennant\\\/\",\"name\":\"S&#038;P 500 reverse pennant - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/11\\\/sp-500-reverse-pennant\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/11\\\/sp-500-reverse-pennant\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2013\\\/2013-02-11-spx.png\",\"datePublished\":\"2013-02-11T06:14:05+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/11\\\/sp-500-reverse-pennant\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/11\\\/sp-500-reverse-pennant\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/11\\\/sp-500-reverse-pennant\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2013\\\/2013-02-11-spx.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2013\\\/2013-02-11-spx.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2013\\\/02\\\/11\\\/sp-500-reverse-pennant\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"S&#038;P 500 reverse pennant\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1JA","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":6740,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/17\/sp-500-still-cautious\/","url_meta":{"origin":6670,"position":0},"title":"S&#038;P 500 still cautious","author":"Colin Twiggs","date":"February 17, 2013","format":false,"excerpt":"The S&P 500 is testing short-term resistance at 1525 on the daily chart. Breakout would signal an advance to 1550. Bearish divergence on 21-day Twiggs Money Flow, however, warns of retracement to the rising trendline. The quarterly chart warns us to expect strong resistance at the 2000\/2007 highs of 1550\/1575.\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6783,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/24\/sp-500-caution-2\/","url_meta":{"origin":6670,"position":1},"title":"S&#038;P 500 finds support but Nasdaq warns caution","author":"Colin Twiggs","date":"February 24, 2013","format":false,"excerpt":"The S&P 500 found support at 1500 and is headed for a re-test of resistance at 1525\/1530. Bearish divergence on 21-day Twiggs Money Flow warns of mild selling pressure. Breakout above resistance would negate this, while reversal below 1500 and the rising trendline would warn of a correction. Breach of\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6584,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/25\/sp-500-threatens-breakout\/","url_meta":{"origin":6670,"position":2},"title":"S&#038;P 500 threatens breakout","author":"Colin Twiggs","date":"January 25, 2013","format":false,"excerpt":"The S&P 500 is headed for a test of the 2000\/2007 highs at 1550\/1565. Expect resistance but troughs above the zero line on 13-week\u00a0 Twiggs Money Flow indicate long-term buying pressure. Breakout is likely and would signal an advance to 1750*. Breach of the rising trendline would test of support\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6606,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/03\/sp-500-buying-pressure\/","url_meta":{"origin":6670,"position":3},"title":"S&#038;P 500 buying pressure","author":"Colin Twiggs","date":"February 3, 2013","format":false,"excerpt":"The S&P 500 displays evidence of buying pressure on the daily chart, with brief retracement to test support at 1500 followed by a surge to a new 5-year high. Expect a test of the 2000\/2007 highs at 1550\/1565. Troughs above the zero line on 13-week\u00a0 Twiggs Money Flow indicate longer-term\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6755,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/02\/20\/sp-500-caution\/","url_meta":{"origin":6670,"position":4},"title":"S&#038;P 500 caution","author":"Colin Twiggs","date":"February 20, 2013","format":false,"excerpt":"The S&P 500 retreated below 1525, heading for support at 1500. Failure of support would test the secondary trendline at 1475. Bearish divergence on 21-day Twiggs Money Flow warns of selling pressure, but may not be sufficient to start a full-blown correction. Breach of the secondary trendline at 1475 would\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2519,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/05\/us-market-show-promise-of-recovery\/","url_meta":{"origin":6670,"position":5},"title":"US markets show promise of recovery","author":"ColinTwiggs","date":"December 5, 2011","format":false,"excerpt":"We are not out of the woods yet, but the S&P 500 weekly chart is starting to diverge from its mid-2008 pattern. Headed for a test of the descending trendline and resistance at 1300, an index breakout would signal a primary advance to 1450* and the end of the bear\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=6670"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6670\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=6670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=6670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=6670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}