Just a basic update on my rising wedge patterns. Note so far today it was a test of the support line of the current wedge. If this wedge pattern is right, then we S&P is pretty much out of room for now and we should see a pull back soon.
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11:58am and still testing this support and so far it is holding
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I wonder if we will see the same pattern as last time?
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So far, that pattern looks promising. Here is the end of day.
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Thursday 1:20pm and it did not quite follow the pattern. If anything it is showing a similar but weaker pattern. It is now outside the wedge that I drew.
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Maybe this is the actually pattern?
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End of the week. Still looks viable as a pattern.
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Tuesday and the pattern is still holding strong.
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End of the day Tuesday and it is almost like I can predict the future ;) I am sure the market will throw a wrench into this tomorrow.
