A break out up would help confirm the pattern. If so, it could be a sharp bounce. Keep in mind, this falling wedge could support the bear case as well since it would represent a leading diagonal wave 1 or a down.
 |
| 10 Min - 10:09 AM |
Friday, September 27, 2013
9/27/13 - AM Update
On Wednesday I mentioned the possibility of a falling wedge that may favor the bulls if the market continues to chop lower. Since Wednesday, the market is still chopping lower so we must be cognizant of this falling wedge.
A break out up would help confirm the pattern. If so, it could be a sharp bounce. Keep in mind, this falling wedge could support the bear case as well since it would represent a leading diagonal wave 1 or a down.
A break out up would help confirm the pattern. If so, it could be a sharp bounce. Keep in mind, this falling wedge could support the bear case as well since it would represent a leading diagonal wave 1 or a down.
