December 27, 2011

Rising Wedge of S&P 500 Futures

  • ES Hour trend remains up and Bulls are safe above 50 Hour SMA and the Hourly ichimoku cloud.
  • Hour chart shows a possible bearish reversal pattern a rising wedge.
  • But there are cases of rising wedge breaking the resistance line and acted as continuation breakouts.
  • SPY MOVING UP WITH DECREASING VOLUME

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