Rising wedge in SPX?

Let me guess. You don't really trade for a living. Do you?

 

Sorry, try this link instead

http://users.tellurian.net/tom/indices/Markets_10_years.htm

 

Much clearer but the same story.
The break after a multi-year diagonal should be devastating.
Not a normal correction.
It looks like an ED, but its a bear trap.

 

I had a HnS breakdown on the Wilshire earlier that had not confirmed yet. The volume action sure does stand out on this.

 

Feel we are having a normal pullback after a rally
SPX support 1295.

 

http://www.stockcharts.com/education/ChartAnalysis/risingWedge.html

 

rising wedges keep rising until they dont

i think they're about as usefull as elliot wave

 

http://www.charthub.com/images/2006/08/29/ESHigherTF_2.png



If the ES breaks 1295.50 today that will be key.....they better like the Fed notes or we are going to have some liquidation today.

 

I was trying to be charitable and polite to you and your weak commentary but that was clearly a waste of time.

 

My Guru has that as a different pattern entirely