Replies to post #54036 on SPDR S&P 500 (SPY)

[learningboutinv]

I am seeing a falling wedge pattern forming on the 60min which could signal a reversal. If we break the upper trendline of the falling wedge we may have a short term rally. We will have to break QLD 73.34 on the next hourly bar or QQQQ 45.21. (Edit I've included a 60min chart)


May be we retrace back to the blue line? which is the 20dma on my 60min chart @ 77.20 or QQQQ 46.37. Then back down to test that 2nd gap below?