SPX reacts higher after fed and triggers double bottom formation

21 sept. 2016

Bullish engulfing after market reacts positively to Fed minutes after leaving rates unchanged but pointing towards a hike in December. Double bottom formation triggered on a break of the 2163 neckline
Buy a break of 2165
Measured move target 2210
161.8% fib extension at 2230
Stop at 2120

22 sept. 2016

Note

Breakout from previous triangle is now forming a bullish flag and backs up the buying a break idea