monkeyfondoodle

Rising wedge on the macro scale!!

SP:SPX   S&P 500 Index
There has been recent bullish momentum driving the rebound from the almost recession creating dip. Unfortunately, as the rally progresses it is losing steam in a way that is creating a classic rising wedge pattern. This could potentially create the doomed recessionary trend that has been previously forecast.
Playing out nicely so far. Started dropping out that the apex of the wedge. Will be interesting to see if the 2350 target is achieved, if so the bear market that was theoretically started near Christmas will most likely resums=e and deepen.
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