SPX 60-Minute Chart Sideways Symmetrical Triangle Falling Wedge Positive Divergence

Textbook sideways symmetrical triangle. The 1160 target area is achieved.  The surprising aspect is that price never back kissed the lower rail of the triangle when it failed at 1240, and a fake-out move from the triangle never occurred either. Price simply collapsed thru the triangle and never looked back, tumbling an equal distance of the vertical base of the triangle, which provided the 1160 target, now achieved. Note the falling wedge in place now over the last 2 or 3 days, and positive divergence, which will bounce price moving forward. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.