- Reaction score
- 2,450
The lower end of the smaller rising wedge, which is within the larger rsising wedge, is being tested today. Rising wedges have a tendency to break to the downside, unless the market is very bullish. The market has been bullish, but things have slowed lately.
If the smaller wedge breaks, we would likely test support of the larger rising wedge formation.
Based on what we have in front of us, which I discussed in today's commentary (8/31/09), I would expect a bullish result this week. But this market is still due for a breather, and September being September, we could see that later this month.
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If the smaller wedge breaks, we would likely test support of the larger rising wedge formation.
Based on what we have in front of us, which I discussed in today's commentary (8/31/09), I would expect a bullish result this week. But this market is still due for a breather, and September being September, we could see that later this month.
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