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A Bearish Rising Wedge

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
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AMEX:SPY   SPDR S&P 500 ETF TRUST
SPDR S&P 500 ETF (SPY) rising Wedge Bearish Patterns
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spy rising wedgepattern bearish
I see two wedges of resistance that if can't be overcome could lead to the downward correction. I will be watching the price movement closely and if close below that rising wedge support I will strongly consider going short SPY.

Andrew Thrasher at SEE IT Market has highlighted some interesting anecdotal market cycle that has its next significant milestone on May 11th.
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