Will S&P stay in this channel or will it drop to fill the gap around 1295?

Discussion in 'Trading' started by mbrownlius, Jul 10, 2012.

  1. Just wondering what folks think. Personally I think the overall trend is bearish and the market will take a quick dip to fill the gap from back in early June. Attached are the indicators I use. Looks like we could drop to fill that gap just under 1300 and still be inside the Bollinger bands.

    I chart the SPY so the values are 1/10th S&P index...
  2. The obvious interpretation is rising wedge - bearish.

    The Playerz know that if enough suckers interpret it that way, they can get a glorious short squeeze going with just a little liquidity injection........

  3. so short it, what you looking for, our approval?