olijoel

Symmetrical Broadening Wedge on SPX

SP:SPX   The S&P 500 Index
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Volume spiked Excessively Last Friday, only that could have caused market to break the previous strong trend line stated on . Now we have a Symmetrical broadening wedge formation. The outcome of this pattern is random, but we can’t lose site that it suggests high volatility due to high presence of bulls and beers trying to take position at different points of the development of this pattern. This pattern usually appears at the end of a mature trend and if it continues for a long period, on the big picture charts, it can start triggering divergence on most indicators.
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