Stocks Teasing a Breakout
Stocks keep teasing us with this bull wedge breakout. They are testing the upper bound 3677 at the time of this writing. If they do manage to breakout, we can expect 3700 (a psychological level) and 3750 (a fibonacci extension) to provide resistance. The S&P is really drawing out this breakout, so we may anticipate another dip before it finally goes. It is not a question of 'if' but 'when'. We could take another dip and test 3650, right about where the lower bound of the wedge is. Of course, if things go south and we break down, watch 3617 and 3584.
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