SPX S&P 500 5-Minute Chart Sideways Symmetrical Triangle

The 5-minute chart shows an interesting sideways triangle in play in blue. Price is teasing the upper rail now for a potential breakout. The vertical side is 20 handles tall. If price breaks out at 2183-2185, price will seek 2203-2205. If price breaks down from 2178-2180, the SPX will target 2158-2160.

Fed Chair Yellen speaks on Friday but the triangle cannot wait that long for her words. Price is going to breakout or breakdown from the triangle today. Note yesterday's choppy sideways move. The SPX moved through 2.5% of its entire point range yesterday and ended the day flat. That is choppy sideways action and very erratic and unstable market behavior. Stocks are in a low volume and low volatility environment.

The pink diamond pattern is in also in play and is looking for a breakout or breakdown from this 2178-2185 area. 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.