S&P500 AT RESISTANCE!
SPY is trading in a wedge and has reached the resistance of it!
Naturally, the market is reacting to the results of the elections,
Yet the coming uncertainty of the contested election is supposed to be pushing the mkt lower not higher.
Alas, in the age of voodoo economics, all we've got is the technical analysis.
If the resistance is broken, we will likely see the new higher high established.
But I just don't see how.
If the market decides to stay within the wedge we will the retest of the support.
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