In my posts on 20th October, 24th October, and 28th October I was looking at the rising wedges on SPX, QQQ, DIA and IWM from the April lows and weighing the odds of these breaking down into a substantial retracement in the near future.
I was saying that these are all good quality mature patterns that I would normally expect to break down, but was concerned that we might instead see the start of a larger break up into December.
My concerns to the upside were firstly that November and December lean significantly bullish, and that remains the case of course.
Shorter term I was concerned that the Fed cut might trigger an upside break but that didn’t happen.
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