Beware the rising wedge

  1. 6,975 Posts.
    G'day folks,

    Don't get your hopes up for a rally in the US tonight, the DOW, S&P and DAQ all formed bearish rising expanding wedges in intra day trading yesterday giving the odds in favour of a further decline tonight.

    Too soon to get bullish yet with further poor economic reports expected this week to add to the woes of the ones released yesterday.

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