Wedge on the S&P
The wedge, as indicated by the 2 red lines shows the decreasing volatility that the indexes are going through. Usually, this indicates the calm before the storm. Whichever way that the indexes break out of the wedge, it may run in that direction for a while. In this instance, I believe there is a high chance that the indexes may break down. This rally had lasted way too long and a correction is long overdue.
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