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Monday, December 7, 2020

SPX S&P 500 2-Hour Chart; Overbot; Rising Wedge; Negative Divergence



Just blow on it and it should fall over. Overbot conditions are agreeable to a pullback. The red rising wedge pattern is ominous and the collapses from this pattern can be quite dramatic. Universal neggie d (red lines) wants to spankdown price. Traders and investors believe that a fiscal stimulus bill will be announced any minute so this hope keeps equities elevated hanging on by a fingernail. 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.

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