With that brief explanation in mind, did the S&P 500 just break out of a bull flag, or is it still tracing out bear flag?
Bullishness and bearishness are in the eyes of the beholder.
The full post can be found here.
Wednesday, February 9, 2022
In the eyes of the beholder
Mid-week market update: Technical analysis can be highly interpretative. Consider, for example, the bull or bear flag, which is a continuation pattern. For the uninitiated, a bull flag is a pullback within a bull trend and the trend is deemed to have continued when the stock or index stages an upside breakout from the flag. The reverse holds for a bear flag.
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