S&P 500 Futures Continue to Backtest Bearish Rising Wedge
Despite today's ongoing rally [gasps in haggard], the S&P futures continue to backtest the bearish rising wedge formed from the March lows. One would expect, after falling from the wedge, that the markets would begin to decline. I still believe this is the case, given the fundamentals faced by the economy at this time. However, if the pattern does not break down soon, then I will begin to become inclined to the view that some other pattern is emerging.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.