As we look at the S&P, we have seen rising wedge after rising wedge start to play out and then come up short of its measured move. Is this going to be just another case of the Fed pumping the markets or are we in for a tragedy?
These failed wedges have given rise to a larger and much more substantial one. With the measured move closing all the gaps we have seen up to this point on the way up, and taking us back down to the golden Fibonacci retracement level, there seems to be some confluence developing. Is something earth shattering around the corner or will the Fed simply continue to step in?
These failed wedges have given rise to a larger and much more substantial one. With the measured move closing all the gaps we have seen up to this point on the way up, and taking us back down to the golden Fibonacci retracement level, there seems to be some confluence developing. Is something earth shattering around the corner or will the Fed simply continue to step in?