S&P500 Developing a Bearish Crab Pattern

The S&P 500 index is currently developing a Bearish Crab pattern, which represents a classic reversal pattern.

Bears can sell at the peak of the pattern in anticipation of a correction to one of the three Fibonacci retracement levels.
Bearish PatternscorrectionCrabFibonacciFibonacci RetracementreversalSPX (S&P 500 Index)S&P 500 (SPX500)Support and Resistance

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