Wednesday, May 20, 2015
SPX S&P 500 Daily Chart Rising Wedge Versus Ascending Triangle
The battle of the red rising wedge pattern (bearish) versus the green ascending triangle pattern (bullish) continues. The SPX breaks out to the upside from the baseline of the green triangle so the bulls cheer, however, price stalls at the upper trend line of the rising wedge showing that bears are fighting back. A move above 2130 to 2140 and higher likely sets the path to 2180 and 2200 while a failure at 2100-2105 will send price down to 2000 and lower. Who will win? This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.