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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?


To: Wayners who wrote (40222)11/11/2012 7:56:47 AM
From: Hawkmoon  Read Replies (3) | Respond to of 220750
 
I would tend to agree.. The Monthly SPY says this correction is only starting.. on a rising wedge formation...

bigcharts.marketwatch.com

What's the normal downside resolution on a rising wedge pattern?

Hawk



To: Wayners who wrote (40222)11/11/2012 6:38:58 PM
From: GROUND ZERO™1 Recommendation  Read Replies (1) | Respond to of 220750
 
The longer term chart looks tentative, I would be cautious longer term... you're absolutely right about that bearish wedge... look at this monthly futures chart... this market doesn't have to break down, but the pattern is beginning to look like it may well break down hard...



GZ