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Re: None

Saturday, 03/12/2016 11:56:18 PM

Saturday, March 12, 2016 11:56:18 PM

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SPY: Rising Wedge Delivers but Dissapoints


The top of the channel provides us with new technical parameters, helping us estimate how much farther price might rally before hitting technical resistance. Conversely, if price fails to reach the top of the channel before falling back to the bottom of the channel, that would be a strong sign that the rally is over.

SUMMARY: The rising wedges resolved as expected, but there was no downside follow-through to break the rally. This forced us to adjust to the new evidence and develop a new rationale befitting current market behavior.


http://stockcharts.com/articles/decisionpoint/2016/03/spy-rising-wedge-delivers-but-dissapoints.html
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