CHART - 2
- Support line of the wedge is broken. Index is moving away from 50 DMA. But Falling wedges are considered to be bullish pattern, Since this pattern has given a break down in favour of bears, Bulls would hoping for a busted pattern.
CHART - 1
- S&P 500 is trading in a falling wedge pattern.
- Today a rally is going on towards the upper trend line of the pattern were it may find resistance. The resistance levels is about 1087-1089.