Bullish Breakouts and Trend Continuity in 2017

Nov 29, 2017: 1:36 PM CST

In the heat of battle, it’s often helpful to raise your perspective to higher ground.

That’s what we’re doing here with the clear price patterns and breakout (bullish) phases in this strong, ongoing bull market in stocks.

Look Closely at the Bullish Breakouts and Resistance Levels:

From the beginning of 2017, the stock market carved a series of higher highs and higher lows, building the structure of a larger uptrend in motion.

I’m highlighting the resistance levels – mainly at 2,400, 2,500, and 2,600 Round Number Levels, and what happened NEXT when price broke ABOVE these levels.

In fact, these green highlights represent the forward progress in 2017.

If you’re surprised by this move, don’t be.  Look at the chart – this pattern keeps repeating.

The purpose of this chart is to highlight prior events similar to what we’re seeing now so we can have a roadmap to the future.

 

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Corey Rosenbloom, CMT

Afraid to Trade.com

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