SPY
have a potential descending broadening wedge on the SPY here on the 15min
just a pattern to keep our eyes on in the next 48 hours to see what type of price action we get in the market
we could break up or come back down to test the support line which would take us to even lower lows then before
what does everyone think ? are we bullish or bearish this week?
Trade closed: stop reached:
we did have a breakout of this pattern but it under preformed and we dumped back down inside the pattern. bullish patterns are not playing out as well as they used to. a key sign of the current market trend.