Formation of a 'rising wedge' pattern and overbought technical indicators in last week's post on the daily bar chart pattern of S&P 500 triggered a small correction.
Note that after the break out and close below the 'rising wedge' on Mon. Nov 28, the index pulled back to the lower edge of the 'wedge' and even touched a new high of 2214 on Wed. Nov 30.
-- Note that after the break out and close below the 'rising wedge' on Mon. Nov 28, the index pulled back to the lower edge of the 'wedge' and even touched a new high of 2214 on Wed. Nov 30.
Read more at:
http://investmentsfordummieslikeme.blogspot.in/2016/12/s-500-and-ftse-100-charts-dec-02-16.html
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