themarketzone
Short

Re-test of broken Wedge

AMEX:SPY   SPDR S&P 500
The best Aug in years! The bulls used the low volume market to push it back to ATH             and above the crucial 200 level.
Ignoring all data and geopolitical chaos along its way, the market reached the re-test zone of the broken weekly Wedge pattern.
It is "put up, or shut up" time now for the bears. This is the sell zone. If they won't press the "sell" bottom now, they will be crushed by some euphoric bulls.
Bulls are looking up for Draghi to provide them more "fuel" now that they are running on fumes. Will he do so? We will wait to Thursday to find out.
Draghi came through but the SPY seems to have found some cracks. What do you think now?
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