an Expanding Wedge pattern

jeff110

Tuesday, May 4th. - Stock Trends, Charts, and Commentary
                                             
Last week, we posted our New York Stock Exchange Index chart with the caption: "Can one chart be worth a thousand words?"

The updated chart as of yesterday's close is posted below. The October 2009 to May 2010 pattern is clear ... it is an Expanding Wedge pattern that has displayed an exact correlation with the S&P 500.

According to the chart, it was on April 15th. that the NYSE index hit the wedge's peak resistance area and retreated.

If you listen to the press and the media, you would think that the market has gone on to make new highs with gaining strength.

The reality from this chart is that the peak was over two weeks ago, and that the market is under duress.

quickcow

好图！

abaqus

my wish!