Classical rising wedge...Note the negative divergence in the price oscillator, macd histo and the rate of change. The bull has lost momentum based on the posc and macd. The negative diverging rate of change says the up trend will soon reverse.
Rising Wedge
2 comments:
very much plays the part. We should get a blow off 'throw over' though before this collapses. I still think we come down and touch the bottom line tomorrow (around spx 890) before we go up for one final test of the top.
Best of luck!
http://ew-indextrader.blogspot.com/
Just came across your blog...I as well trade the SPY strictly VIA options.
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