Will S&P stay in this channel or will it drop to fill the gap around 1295?

M

mbrownlius

Just wondering what folks think. Personally I think the overall trend is bearish and the market will take a quick dip to fill the gap from back in early June. Attached are the indicators I use. Looks like we could drop to fill that gap just under 1300 and still be inside the Bollinger bands.

I chart the SPY so the values are 1/10th S&P index...
 

Attachments

The obvious interpretation is rising wedge - bearish.

The Playerz know that if enough suckers interpret it that way, they can get a glorious short squeeze going with just a little liquidity injection........



:eek:
 
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