Category Archives: Patterns

Disrupted Week

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I’m having a very disrupted week this week as my wife has a big deadline and I’m covering. Normal service will resume next week, but I will be absent from my desk a lot over the remainder of the week.

The nice bear setup yesterday morning fell apart quickly and, if there is no significant support break here, then SPX is still heading up with an obvious target at wedge resistance in the 2130 area. If bears can break below yesterday’s low at 2103.75 and sustain trade below it then I would now have a target in the 2087 area, but I’ll be waiting to see that happen before thinking that the bears might get a serious shot today. SPX 60min chart:

150303 SPX 60min Rising Wedge