The S&P 500’s daily chart has a wedge pattern that is getting very cramped. The top of the pattern is around 3190, and represents the downtrend from the 3393.52 high that was made on 2/19/20. The bottom of the patterns is around 3095, and represents the uptrend from the 2191.86 low that was made on 3/23/20.
It’ll be interesting to see which side we break out of the pattern, and if that directional break starts a new trend.
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