SPX Wedge

SPCFD:SPX   S&P 500 Index
YTD wedge forming on the SPX . Taking into account the news coming out of the US, with back and forth going between the North Korea and Trump and the rallies around racism and increased volatility , a downturn seems likely. There is also rising P/E multiples which are being called unsustainable by many people in the industry, and even the famed 'FANG' stocks are starting to falter.

The technicals support this, and I believe that once the diagonal support line is broken we will start the see a big turn down to the other trend line on the graph.

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